Menomonee Falls, Wisconsin Property Taxes
The median property tax rate in Menomonee Falls, WI is 1.34%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $302,900 in Menomonee Falls, the typical annual property tax bill amounts to $4,051, significantly surpassing the national median of $2,690. Property taxes in Menomonee Falls are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Menomonee Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Menomonee Falls or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Menomonee Falls, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$4,059
Ownwell’s Menomonee Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Menomonee Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Menomonee Falls 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 Menomonee Falls, Wisconsin
Property taxes in Menomonee Falls, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Menomonee Falls is 1.34%, higher than the U.S. national median of 0.99%. Local government entities within Menomonee Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Menomonee Falls 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 Menomonee Falls' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53051 zip code has the highest median property tax rate of 1.34%, while the same zip code also represents the lowest median tax rate at 1.34%. Understanding how these cities compare with Menomonee Falls 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 Menomonee Falls Tax Rate
1.34%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Menomonee Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53051 | 1.33% | 1.34% | 1.34% | 1.34% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Menomonee Falls, Wisconsin
In Menomonee Falls, 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 Waukesha County 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 Menomonee Falls, 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 Menomonee Falls is $302,900, with tax bills ranging from $3,517 at the 25th percentile to $7,656 at the 90th percentile. Notably, the zip code 53051 has both the highest and lowest median tax bill at $4,051. 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 Menomonee Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Menomonee Falls, Wisconsin
Source: Ownwell
$37,400
$266,250
$495,100
Average Menomonee Falls Assessed Value
$302,900
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 Menomonee Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53051 | $235,200 | $262,900 | $302,900 | $431,500 | $572,960 |
Source: Ownwell
Property Tax Bills Across Menomonee Falls, Wisconsin
In Menomonee Falls, Waukesha County, WI, property tax bills are calculated based on the assessed value of your home and the local tax rate. The median home price in the area is $302,900. The tax rate is applied to this assessed value to determine your annual property tax bill. Factors such as property improvements, changes in market value, and local budget requirements can influence the assessed value and, consequently, the tax amount. For homeowners, this means that their property tax bills can vary significantly. For instance, the 25th percentile tax bill is around $3,517, while the 75th percentile tax bill reaches approximately $5,762. At the 90th percentile, homeowners might see tax bills as high as $7,656. The highest median tax bill in the area is $4,051, which is notably higher than the national median property tax rate of 0.99%. This variability can impact household budgets and long-term financial planning, making it essential for homeowners to stay informed about property assessments and local tax rates.
Average Menomonee Falls Tax Bill
$4,051
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Menomonee Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53051 | $3,147 | $3,517 | $4,051 | $5,762 | $7,656 |
Source: Ownwell