Lake Geneva, Walworth County, Wisconsin Property Taxes
Median Lake Geneva, WI effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Wisconsin state median of 1.58%. Median Lake Geneva, WI home value: $266,912. Median annual Lake Geneva, WI tax bill: $3,521, $1,121 higher than the national median property tax bill of $2,400.
How are property taxes in Walworth calculated?
Property taxes in Lake Geneva, 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 Lake Geneva’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Geneva, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Geneva, Walworth County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.31%
Estimate Property Tax Bill
$3,497
$3,245
Property Tax Rates Across Lake Geneva, Walworth County, Wisconsin
Local government entities determine tax rates, which can differ significantly within a state. This variation is due to each county's annual budget estimation process, where they calculate the necessary funds to provide services and then divide this by the total value of all taxable properties within their jurisdiction. This calculation results in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is essentially the annual process.
In Lake Geneva, located in Walworth County, the effective property tax rate stands at 1.31%, which is notably higher than the national median property tax rate of 1.02%. This places Lake Geneva among the higher property tax regions, reflecting the county's budgetary needs and property valuations. Compared to other cities in Wisconsin, Lake Geneva's tax rate aligns with the state's property tax landscape, where rates can fluctuate based on local government requirements. Understanding these differences is crucial for property owners aiming to manage their tax liabilities effectively.
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 Lake Geneva Tax Rate
1.31%
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 Walworth County Tax Rate
1.30%
Median Effective Wisconsin Tax Rate
1.58%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Geneva, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53147 | 1.01% | 1.09% | 1.31% | 1.45% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Lake Geneva, Walworth County, Wisconsin
When examining property taxes in Lake Geneva, 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 Walworth 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 Walworth 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 Lake Geneva. For example, the median home price in Lake Geneva is $266,912, with tax bills ranging significantly across the county. Zip code 53147 has the highest median home price at $266,912.
Property Tax Assessment Values Across Lake Geneva, Walworth County, Wisconsin
Source: Ownwell
$163,882
$315,617
$467,352
Median Lake Geneva Market Value
$266,912
Median Walworth County Market Value
$260,578
Median Wisconsin Market Value
$200,300
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Geneva, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53147 | $91,362 | $156,624 | $266,912 | $459,424 | $833,886 |
Source: Ownwell
Property Tax Bills Across Lake Geneva, Walworth County, Wisconsin
Median Lake Geneva Tax Bill
$3,521
Median Walworth County Tax Bill
$3,583
Median Wisconsin Tax Bill
$3,346
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Geneva, Walworth County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53147 | $1,247 | $2,183 | $3,521 | $5,896 | $10,084 |
Source: Ownwell