Property Tax Lawyers in Milwaukee
Laws of Milwaukee, Wisconsin require all property owners to pay a tax on the value of their property. Property taxes only apply to real property (as opposed to personal property). This includes land, buildings, and assets that are permanently or semi-permanently adhered to the land.
Property taxes in Milwaukee, Wisconsin are calculated as a percentage of the appraised value of the property. Property taxes are paid to the state or local government at regular (usually yearly) intervals.
In general, the federal government does not impose any property tax. Typically, property tax is imposed by state, county, and municipal governments.
How Property Tax is Calculated in Milwaukee, Wisconsin
Most often, property taxes in Milwaukee, Wisconsin are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of different tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax in a fair and consistent manner, Milwaukee, Wisconsin tax authorities need to have an objective formula for determining the value of land under its jurisdiction.
Value is subjective in many respects. The home that you grew up in is probably worth more to you than its going market rate. So, to ensure that property taxes are fair and uniform, tax collectors have to use purely objective factors when appraising property.
There are many different ways to value property using objective factors. Generally, the appraiser in Milwaukee, Wisconsin will consider the current state of the real estate market, the size of the property, any improvements (buildings, roads, etc.) that have been made on the property, and the manner in which the property may be legally used (zoning).
How A Milwaukee, Wisconsin Property Tax Attorney Can Help.
The system of levying property taxes in Milwaukee, Wisconsin can get fairly complex. Disputes about property taxes, between the taxpayer and the tax authorities, can come up in several different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Also, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If one of these issues affects you and your property in Milwaukee, Wisconsin, you should make every effort to properly handle it. This can prevent small issues from growing into large ones. The best way to do this is to seek the advice of a good Milwaukee, Wisconsin tax attorney who specializes in property tax law.