Equalized Property Value by Municipality
| Municipality |
2023-2024 |
2024-2025 |
Change ($) |
Change (%) |
| City of Lake Mills |
$ 832,247,300 |
$ 910,294,100 |
$ 78,046,800 |
9.38% |
| Town of Aztalan |
$ 72,745,799 |
$ 81,463,255 |
$ 8,717,456 |
11.98% |
| Town of Lake Mills |
$ 545,125,714 |
$ 580,323,114 |
$ 35,197,400 |
6.46% |
| Town of Milford |
$ 131,022,370 |
$ 143,740,982 |
$ 12,718,612 |
9.71% |
| Town of Oakland |
$ 9,728,805 |
$ 9,040,049 |
$ (688,756) |
-7.08% |
| Town of Waterloo |
$ 53,570,404 |
$ 59,472,367 |
$ 5,901,963 |
11.02% |
| Town of Watertown |
$ 4,013,213 |
$ 4,364,298 |
$ 351,085 |
8.75% |
| District Wide |
$ 1,648,453,605 |
$ 1,788,698,165 |
$ 140,244,560 |
8.51% |
Wisconsin property taxes are a key source of revenue for local governments, schools, and other public services. Below are some key terms to help understand Wisconsin property taxes.
Equalized Property Value (EPV): The Equalized Property Value is a measure used to distribute the property tax burden fairly among different municipalities. It adjusts assessed property values to reflect market values and ensures that each municipality contributes its fair share to the overall tax base. The Wisconsin Department of Revenue calculates the equalization factor. EPV is a complicating factor for taxpayers because it is almost certainly a different value than the assessed value assigned by each municipality.
Assessed Property Value: The Assessed Property Value is the estimated market value of a property as determined by local assessors. Local assessors assess the value of properties within their jurisdiction to determine how much property tax each property owner should pay.
School Levy Tax Credit: The state school levies credit provides direct relief to taxpayers by reducing the amount owed on their property tax bills. School Levy Credit is intended to offset school tax levies in municipalities by applying a “credit”.
Mill Rate: The Mill Rate, also known as the mill levy, is the amount of tax payable per dollar of the assessed value of a property. It is expressed in mills, with one mill equal to one-tenth of a cent or $0.001. The mill rate is determined by dividing the total amount of money needed from property taxes by the total assessed value of all taxable property in a jurisdiction.
Levy: The Levy is the total amount of money that a local government, school district, or other taxing authority needs to raise through property taxes to fund its operations.
School Taxes: School Taxes represent the portion of the property tax that goes to fund local school districts. The funds collected from property taxes contribute to financing education, covering expenses such as teacher salaries, facility maintenance, and educational programs. School taxes are a significant component of property taxes in Wisconsin.
To summarize: the Equalized Property Value ensures a fair distribution of the property tax burden; the Assessed Property Value represents the estimated market value of a property; the Mill Rate determines the tax rate applied per dollar of assessed value; the Levy is the total amount of tax revenue required; and School Taxes refer to the portion of property taxes dedicated to funding local education. In Wisconsin, property taxes are a complex combination of these elements, aiming to fund essential public services and education while fairly distributing the tax burden across properties and municipalities.
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