Waterford, Wisconsin Property Taxes
The median property tax rate in Waterford, WI is 1.01%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Waterford at $464,500, the typical annual property tax bill reaches $4,677, significantly exceeding the national median of $2,690. Property taxes in Waterford 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 Waterford'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 Waterford 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
Waterford, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$4,691
$4,354
Ownwell’s Waterford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterford 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 Waterford, Wisconsin
Property taxes in Waterford, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterford is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Waterford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterford 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 Waterford's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53185 zip code has the highest median property tax rate of 1.01%, while the same 53185 zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Waterford 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 Waterford Tax Rate
1.01%
Average Waukesha County Tax Rate
1.34%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | 1.01% | 1.01% | 1.01% | 1.01% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Waterford, Wisconsin
In Waterford, 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 Waterford, 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. The highest median tax bill in Waterford is $4677 in zip code 53185, while the lowest is also $4677 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterford Assessed Value
$464,500
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 Waterford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $365,780 | $402,800 | $464,500 | $526,200 | $563,220 |
Source: Ownwell
Property Tax Bills Across Waterford, Wisconsin
In Waterford, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Waterford stands at $464,500, and the property tax rate in the area is influenced by the county’s financial needs and budget allocations. Homeowners in Waterford can expect their tax bills to vary significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is around $4,056, while the 75th percentile tax bill reaches approximately $5,298, and the 90th percentile tax bill is about $5,671. These tax bills are determined by multiplying the assessed value of the property by the local tax rate. This rate is set annually to meet the budgetary requirements of the local government, schools, and other public services. Homeowners in Waterford, therefore, experience a higher property tax burden compared to the national median property tax rate of 0.99%. Understanding these factors allows homeowners to better anticipate their financial obligations and plan accordingly.
Average Waterford Tax Bill
$4,677
Average Waukesha County Tax Bill
$4,538
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $3,683 | $4,056 | $4,677 | $5,298 | $5,671 |
Source: Ownwell