Muskego, Wisconsin Property Taxes
The median property tax rate in Muskego, WI is 1.14%, which is higher than the national median of 0.99% but lower than Wisconsin's state median of 1.58%. With a median home value of $381,900 in Muskego, the typical annual property tax bill amounts to $4,363, significantly exceeding the national median of $2,690. Property taxes in Muskego are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Muskego'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 Muskego 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
Muskego, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$4,354
$4,040
Ownwell’s Muskego Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Muskego with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Muskego 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 Muskego, Wisconsin
Property taxes in Muskego, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Muskego is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Muskego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Muskego 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 Muskego's effective property tax rate to other areas in Waukesha County and the national median. For comparison, the 53150 zip code has the highest median property tax rate of 1.14%, while the 53150 zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Muskego 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 Muskego Tax Rate
1.14%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Muskego, Wisconsin
In Muskego, 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 Muskego, 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 Muskego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Muskego are $4,363, found in the 53150 zip code. This is significantly higher than the national median property tax rate of 0.99%.
Average Muskego Assessed Value
$381,900
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 Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | $257,530 | $314,400 | $381,900 | $491,350 | $595,850 |
Source: Ownwell
Property Tax Bills Across Muskego, Wisconsin
In Muskego, located in Waukesha County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Muskego is $381,900, which serves as a starting point for determining the tax bill. Local assessors evaluate properties to establish their assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Muskego can expect tax bills that vary significantly. For instance, the 25th percentile tax bill is $3,589, while the 75th percentile tax bill reaches $5,618. At the 90th percentile, the tax bill can be as high as $6,817. These figures indicate that property taxes in Muskego can be substantial, affecting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Muskego's tax rates reflect local funding needs and property values, which directly impact the financial obligations of homeowners.
Average Muskego Tax Bill
$4,363
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Muskego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53150 | $2,948 | $3,589 | $4,363 | $5,618 | $6,817 |
Source: Ownwell