Lannon, Wisconsin Property Taxes
The median property tax rate in Lannon, WI is 1.30%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Lannon, the typical annual property tax bill reaches $3,874, exceeding the national median of $2,690. Property taxes in Lannon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lannon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lannon or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lannon, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$3,873
Ownwell’s Lannon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lannon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lannon 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 Lannon, Wisconsin
Property taxes in Lannon, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lannon is 1.30%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Lannon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lannon 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 Lannon's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53046 zip code has the highest median property tax rate of 1.30%, while it also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Lannon provides valuable insights into the varying tax landscape across Waukesha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lannon Tax Rate
1.30%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lannon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53046 | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Lannon, Wisconsin
In Lannon, 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 Lannon, 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. 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 Lannon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Waukesha County, the median home price is $297,900, with the highest median tax bill of $3,874 in the 53046 zip code and the lowest median tax bill also being $3,874 in the same zip code.
Average Lannon Assessed Value
$297,900
Average Waukesha County Assessed Value
$348,408
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lannon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53046 | $187,000 | $232,750 | $297,900 | $410,100 | $487,700 |
Source: Ownwell
Property Tax Bills Across Lannon, Wisconsin
In Lannon, located in Waukesha County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Lannon, the median home price stands at $297,900. Property tax bills can vary significantly, with the 25th percentile at $3,027, the 75th percentile at $5,334, and the 90th percentile reaching $6,343. These figures highlight the range of property taxes homeowners might expect, depending on their property's assessed value and any applicable exemptions. Comparatively, the national median property tax rate is 0.99%, which allows homeowners in Lannon to gauge how their property tax bills align with national standards. Understanding these factors helps homeowners budget effectively and anticipate their annual financial obligations.
Average Lannon Tax Bill
$3,874
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lannon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53046 | $2,431 | $3,027 | $3,874 | $5,334 | $6,343 |
Source: Ownwell