How Much Wisconsin Homeowners Pay in Property Taxes Each Year
Property taxes are the lifeblood of local governments and municipalities across the United States, accounting for over 70% of all local tax revenue. Property taxes - such as taxes levied on homeowners and landowners - go to fund schools, parks, roads, and other public works and services.
While states typically impose a minimum property tax, property taxes are mostly determined at the local level - and are often a percentage of a property or home's overall value. Depending on where you choose to buy a home, property taxes can range from negligible amounts to nearly matching a mortgage payment.
Across Wisconsin, the effective annual property tax rate stands at 1.53%, the eighth highest among states. For context, homeowners in the U.S. pay an average of 1.03% of their housing value in property taxes a year.
The effective property tax rate is calculated by taking the total amount of taxes paid on owner-occupied homes in a given area as a share of the total value of those homes. W...