Analysis: State property taxes 18th in US
In Wisconsin, where local governments have limited tax power, property taxes help fund crucial public services. For homeowners and renters alike, they’re also a major annual expense. Last year, the median Wisconsin homeowner paid $3,170 in property taxes. Property taxes are a key source of funding for local and county governments, school districts and technical colleges. They are a tax property owners pay proportionate to the assessed value of their property.
Unlike in many other states, Wisconsin’s homeowners and landlords don’t get a discount on property taxes. The state charges the same tax rate on residential and commercial properties.
That rate, multiplied by the value of your property, determines your annual property tax bill.
In Wisconsin, the median tax rate is 1.63%, according to a Homefront analysis of U.S. Census Bureau data1. Property tax rates, however, vary by local community.
Assuming the state’s median rate, the owner of a $100,000 house would pay $1,630 a year in property taxes.
Wisconsin ranks 18th in the country for its median property taxes, according to an analysis by property analytics firm CoreLogic.
The median Wisconsin homeowner paid $3,170 in property taxes last year, CoreLogic found.
That’s slightly more than the median homeowner in Nebraska, and a little less than the median homeowners in Maine and Minnesota.
In Wisconsin, local governments are especially dependent on property taxes — much more so than in other states.
The state prohibits most towns, cities and villages from imposing a sales tax, which means local public services rely on property taxes for the bulk of their funding.
In 2011, under the Scott Walker administration, Wisconsin also set strict limits on local property tax increases.
These state restrictions have put some local communities in a bind, according to a Wisconsin Policy Forum analysis.
Many communities around the state are struggling to raise enough tax revenue to cover public services and pension obligations.
Some Milwaukee homeowners were alarmed when the city released its 2024 property assessments.
Property values rose 17.4% across Milwaukee — and rose more than 25% in some pockets of the city.
Those assessments are a reflection of the real estate market, City Assessor Nicole Larsen told the Journal Sentinel.
Fierce competition for homes has been pushing home values up for years. Home prices in Milwaukee County rose 7.4% in 2022 and 5.2% in 2023, according to the Greater Milwaukee Association of Realtors.
Higher assessments, however, don’t guarantee higher property taxes.
If your property value rose — but rose less than the citywide average — you could see your tax bill fall.
Milwaukee’s property tax rate won’t be determined until this fall, when the mayor and the Milwaukee Common Council set the city’s overall levy.
That levy, divided by the total, taxable property value in Milwaukee, determines the city’s property tax rate.
The median Wisconsin homeowner paid $3,170 in property taxes last year, CoreLogic found.