Mukwonago, Wisconsin Property Taxes
The median property tax rate in Mukwonago, WI is 1.17%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mukwonago at $356,500, the typical annual property tax bill reaches $4,336, significantly exceeding the national median of $2,690. Property taxes in Mukwonago are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mukwonago'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 Mukwonago or another part of Waukesha County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mukwonago, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$4,171
Ownwell’s Mukwonago Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mukwonago with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mukwonago 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 Mukwonago, Wisconsin
Property taxes in Mukwonago, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mukwonago is 1.17%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mukwonago set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mukwonago 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 Mukwonago's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53149 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Mukwonago 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 Mukwonago Tax Rate
1.17%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mukwonago, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | 1.01% | 1.17% | 1.17% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Mukwonago, Wisconsin
In Mukwonago, 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 Mukwonago, 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 Mukwonago helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mukwonago are consistent at $4,336, with the zip code 53149 having this value.
Average Mukwonago Assessed Value
$356,500
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 Mukwonago, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | $225,000 | $281,900 | $356,500 | $452,700 | $545,720 |
Source: Ownwell
Property Tax Bills Across Mukwonago, Wisconsin
In Mukwonago, WI, property tax bills are determined by assessing the property's market value and applying the local tax rate. The assessed value is derived from the estimated market value of the home, which is then multiplied by the tax rate set by local authorities. Factors such as property location, size, and improvements can influence this assessed value. Homeowners in Mukwonago experience varying tax bills depending on these assessments. The median home price in the area is $356,500, leading to different tax bills across the spectrum. For instance, the tax bill at the 25th percentile is $3,686, while at the 75th percentile, it rises to $5,622. The highest tax bills, at the 90th percentile, can reach up to $6,894. Comparatively, Mukwonago's property tax rates are higher than the national median property tax rate of 0.99%, which can significantly impact homeowners' annual expenses. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Mukwonago Tax Bill
$4,336
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mukwonago, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53149 | $3,129 | $3,686 | $4,336 | $5,622 | $6,894 |
Source: Ownwell