Wales, Wisconsin Property Taxes
The median property tax rate in Wales, WI is 1.27%, notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $377,500 in Wales, the typical annual property tax bill amounts to $4,764, surpassing the national median of $2,690. Property taxes in Wales are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wales' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wales 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
Wales, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$4,794
$4,449
Ownwell’s Wales Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wales with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wales 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 Wales, Wisconsin
Property taxes in Wales, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wales is 1.27%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Wales set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wales 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 Wales's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53183 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Wales 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 Wales Tax Rate
1.27%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wales, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53183 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Wales, Wisconsin
In Wales, 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 Wales, 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 Wales is $377,500, with tax bills ranging from $4,231 at the 25th percentile to $8,811 at the 90th percentile. 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 Wales helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wales Assessed Value
$377,500
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 Wales, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53183 | $294,560 | $337,600 | $377,500 | $445,500 | $697,800 |
Source: Ownwell
Property Tax Bills Across Wales, Wisconsin
Property tax bills in Wales, WI, are determined based on the assessed value of a property, which is influenced by factors such as the home's market value, improvements, and neighborhood trends. The median home price in Wales is $377,500, and the tax rate applied to this assessed value determines the final tax bill. For example, the tax bill for the 25th percentile is $4,231, while for the 75th percentile, it rises to $5,581. At the 90th percentile, homeowners can expect to pay around $8,811. This variation highlights how property value assessments and local tax rates can significantly impact what homeowners owe annually. With the highest median tax bill in the area being $4,764, Wales falls above the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Wales Tax Bill
$4,764
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Wales, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53183 | $3,561 | $4,231 | $4,764 | $5,581 | $8,811 |
Source: Ownwell