Walworth, Walworth County, Wisconsin Property Taxes
The median property tax rate in Walworth, WI is 1.44%, notably higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With a median home value of $243,892 in Walworth, the typical annual property tax bill amounts to $3,339, surpassing the national median of $2,690. Property taxes in Walworth are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Navigating Walworth's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Walworth or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walworth, Walworth County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$3,512
$3,259
Ownwell’s Walworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walworth to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Walworth, Walworth County, Wisconsin
Property taxes in Walworth, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walworth is 1.44%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Walworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walworth estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Walworth's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53184 zip code has the highest median property tax rate of 1.44%, while the 53184 zip code also has the lowest median tax rate of 1.44%. Understanding how these areas compare with Walworth provides valuable insights into the varying tax landscape across Walworth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walworth Tax Rate
1.44%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walworth, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53184 | 1.16% | 1.20% | 1.44% | 1.46% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Walworth, Walworth County, Wisconsin
In Walworth, Wisconsin, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Walworth, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Walworth is $243,892, with tax bills ranging from $2,671 at the 25th percentile to $5,086 at the 90th percentile. The zip code with the highest median tax bill is 53184, with a tax bill of $3,339. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Walworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Walworth, Walworth County, Wisconsin
Source: Ownwell
$163,882
$315,617
$467,352
Average Walworth Assessed Value
$243,892
Average Walworth County Assessed Value
$260,578
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walworth, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53184 | $153,001 | $189,874 | $243,892 | $305,870 | $407,044 |
Source: Ownwell
Property Tax Bills Across Walworth, Walworth County, Wisconsin
Property tax bills in Walworth, WI, are calculated based on the assessed value of a property, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. In Walworth, the median home price is $243,892, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $2,671, while the 75th percentile tax bill is $4,108. At the 90th percentile, homeowners might see a tax bill as high as $5,086. Several factors influence the tax bill, including property size, location, and condition. Local government budgets and school district funding needs also play a significant role. Compared to the national median property tax rate of 0.99%, Walworth's tax rates may seem high, but they reflect the community's investment in public services. Homeowners in Walworth should be aware of these factors as they directly affect their annual property tax obligations, impacting their overall cost of homeownership.
Average Walworth Tax Bill
$3,339
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Walworth, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53184 | $2,097 | $2,671 | $3,339 | $4,108 | $5,086 |
Source: Ownwell