Waterford, Racine County, Wisconsin Property Taxes
Median Waterford, WI effective property tax rate: 1.44%, significantly higher than the national median of 1.02%, but lower than the Wisconsin state median of 1.58%.
Median Waterford, WI home value: $295,007
Median annual Waterford, WI tax bill: $4,025, $1,625 higher than the national median property tax bill of $2,400.
How are property taxes in Racine calculated?
Property taxes in Waterford, WI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Waterford’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waterford, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Waterford, Racine County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.44%
Estimate Property Tax Bill
$4,248
$3,942
Property Tax Rates Across Waterford, Racine County, Wisconsin
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Waterford Tax Rate
1.44%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Racine County Tax Rate
1.64%
Median Effective Wisconsin Tax Rate
1.58%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Waterford, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | 1.03% | 1.15% | 1.44% | 1.72% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Waterford, Racine County, Wisconsin
When examining property taxes in Waterford, WI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Racine County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Racine County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Waterford. For example, the median home price in Waterford is $295,007, with tax bills ranging significantly across the county. Zip code 53185 has the highest median home price at $295,007.
Property Tax Assessment Values Across Waterford, Racine County, Wisconsin
Source: Ownwell
$81,109
$214,390
$347,670
Median Waterford Market Value
$295,007
Median Racine County Market Value
$210,852
Median Wisconsin Market Value
$200,300
Median United States Market Value
$235,294
Property Tax Assessment Values Across Waterford, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $178,771 | $231,670 | $295,007 | $368,853 | $467,997 |
Source: Ownwell
Property Tax Bills Across Waterford, Racine County, Wisconsin
In Waterford, Racine 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 this area is $295,007, and the property tax rate is significantly higher than the national median of 1.02%. Homeowners in Waterford can expect tax bills ranging from $3,079 at the 25th percentile to $6,693 at the 90th percentile. This can be a substantial financial burden, especially when compared to the national median property tax bill of $2,400.
Factors influencing the tax bill include the home's assessed value and the local government's budgetary needs. A higher assessed value or increased budget requirements can lead to a higher tax bill. Ownwell can assist homeowners in Waterford by providing expert property tax appeal services, potentially reducing their tax obligations. By analyzing property assessments and identifying discrepancies, Ownwell helps homeowners ensure they are not overpaying, ultimately leading to significant savings on their property tax bills.
Median Waterford Tax Bill
$4,025
Median Racine County Tax Bill
$3,592
Median Wisconsin Tax Bill
$3,346
Median United States Tax Bill
$2,400
Property Tax Bills Across Waterford, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53185 | $2,338 | $3,079 | $4,025 | $5,360 | $6,693 |
Source: Ownwell