Oconomowoc, Waukesha County, Wisconsin Property Taxes

Name: Property Tax Bills Across Oconomowoc, Waukesha County, Wisconsin
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Oconomowoc, WI effective property tax rate: 1.49%, significantly higher than the national median of 1.02%, but lower than the Wisconsin state median of 1.58%.
Median Oconomowoc, WI home value: $396,100
Median annual Oconomowoc, WI tax bill: $5,405, $3,005 higher than the national median property tax bill of $2,400.

How are property taxes in Waukesha calculated?

Property taxes in Oconomowoc, 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 Oconomowoc’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oconomowoc, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Oconomowoc, Waukesha County, Wisconsin Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.49%

Estimate Property Tax Bill

$5,902

$5,477

Ownwell’s Oconomowoc Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Oconomowoc with just two data points.

By entering your property's estimated assessed value, our calculator applies Oconomowoc’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Waukesha County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oconomowoc, Waukesha County, Wisconsin

Local government entities in Wisconsin set tax rates, which can vary widely within the state. This variation occurs because each county, such as Waukesha, estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.

In Oconomowoc, located in Waukesha County, the effective property tax rate is 1.49%. This rate is higher than the national median property tax rate of 1.02%. When comparing Oconomowoc to other cities in Wisconsin, the tax rate is consistent with the state median, which also stands at 1.49%. This suggests that property owners in Oconomowoc experience a tax rate that aligns with the state's average, yet is significantly above the national median. Understanding these rates can help property owners make informed decisions about their investments and potential tax appeals.

Property Tax Rates Across Oconomowoc, Waukesha County, Wisconsin

Source: Ownwell

0.93%

1.32%

1.71%

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 Oconomowoc Tax Rate

1.49%

Median Effective Waukesha County Tax Rate

1.34%

Median Effective Wisconsin Tax Rate

1.58%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oconomowoc, Waukesha County, Wisconsin

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
53066	1.18%	1.24%	1.49%	1.51%	1.51%

Source: Ownwell

Property Tax Assessment Values Across Oconomowoc, Waukesha County, Wisconsin

When examining property taxes in Oconomowoc, 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 Waukesha 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. Assessment notices: In Waukesha County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Oconomowoc. For example, the median home price in Oconomowoc is $396,100, with tax bills ranging significantly across the county. Zip code 53066 has the highest median home price at $396,100.

Property Tax Assessment Values Across Oconomowoc, Waukesha County, Wisconsin

Source: Ownwell

$51,250

$273,175

$495,100

Median Oconomowoc Market Value

$396,100

Median Waukesha County Market Value

$348,408

Median Wisconsin Market Value

$200,300

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oconomowoc, Waukesha County, Wisconsin

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
53066	$232,600	$294,000	$396,100	$540,000	$906,900

Source: Ownwell

Property Tax Bills Across Oconomowoc, Waukesha County, Wisconsin

In Oconomowoc, located in Waukesha County, WI, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in this area is $396,100, and the property tax rates are notably higher than the national median of 1.02%. Homeowners in Oconomowoc face a median tax bill of $5,405, which is significantly above the national median of $2,400. The tax bill can range widely, from the 25th percentile at $4,019 to the 90th percentile reaching $11,359, depending on the property's assessed value and applicable exemptions. These taxes fund essential services like schools, infrastructure, and public safety, impacting homeowners' financial planning. Ownwell can assist homeowners by reviewing their property assessments and identifying potential inaccuracies or missed exemptions. By filing appeals and ensuring accurate valuations, Ownwell helps reduce property tax burdens, offering significant savings and peace of mind to homeowners in Oconomowoc.

Property Tax Bills Across Oconomowoc, Waukesha County, Wisconsin

Source: Ownwell

$464

$3,817

$7,170

Median Oconomowoc Tax Bill

$5,405

Median Waukesha County Tax Bill

$4,538

Median Wisconsin Tax Bill

$3,346

Median United States Tax Bill

$2,400

Property Tax Bills Across Oconomowoc, Waukesha County, Wisconsin

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
53066	$3,234	$4,019	$5,405	$7,323	$11,359

Source: Ownwell