exñéüà Regional Region s largest cities rank low in property tax burden, defying conventional wisdom Thanks to research funder Study author

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1 Regional Volume Three Number Nine July 2006 exñéüà Thanks to research funder Study author Jeffrey Schmidt Researcher Jeffrey C. Browne President Anneliese Dickman, J.D. Research Director Ryan Horton Researcher Jerry Slaske Communications Director Catherine A. Crother Office Manager Region s largest cities rank low in property tax burden, defying conventional wisdom By one key measure, the three largest cities in southeastern Wisconsin are property tax havens. That key measure links home values to the net tax rate. As a result, Kenosha, Racine, and Milwaukee homeowners paid lower property taxes than their suburban neighbors because city homes tend to be assessed at lower valuations. While the typical homeowner in the region paid about $4,000 in property taxes, the average tax bill was less than $3,500 in Milwaukee, just over $3,500 in Kenosha, and below $3,000 in Racine. Overall, the property tax levy for the region was $3.2 billion for 2006, a 2.4% increase. School tax levies declined slightly. Tax rates declined 7.4% to a regional average of $18.78 per $1,000 assessed valuation, due to average home values increasing nearly 9% to $217,631. Table 1 shows how the relationship between tax rates, home values, and tax bills changes typical perceptions about the property tax burden. For example, Milwaukee County municipalities imposed the highest tax rates by far of all counties in the region*: $22.93 per $1,000 assessed valuation on average. Yet the typical Milwaukee County residence was valued (as reflected in recent home sales) considerably lower than the average for the region. Thus, the typical Milwaukee County homeowner paid somewhat less than the regional average in property taxes. In contrast, Waukesha County citizens had low tax rates, high property values, and much larger tax bills. *Counties of Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington, and Waukesha. 633 West Wisconsin Avenue Suite 406 Milwaukee, Wisconsin Phone (414) Established in 1913 as a local government watchdog, the Public Policy Forum is a nonpartisan, nonprofit organization dedicated to enhancing the effectiveness of government and the development of southeastern Wisconsin through objective research of public policy issues. Table 1: 2005 average home sale price and 2006 net tax county rankings 2006 net tax rate Rank 2005 average home sale price Rank 2006 average tax bill Rank Kenosha County $ $196,755 5 $3,669 5 Milwaukee County $ $176,837 7 $4,056 4 Ozaukee County $ $292,968 2 $4,852 1 Racine County $ $184,724 6 $3,388 7 Walworth County $ $265,287 3 $4,320 3 Washington County $ $225,212 4 $3,627 6 Waukesha County $ $299,023 1 $4,661 2 Southeastern Wisconsin $ $217, $4, State of Wisconsin $ NA -- NA -- 1

2 REGIONAL REPORT One Region One Future Key findings Southeastern Wisconsin s gross property tax levy increased 2.4% from 2005 to Its school district tax levy decreased 0.1%. The municipal tax levy increased 4%, while the county tax levy rose 3.4%. Thirty-two municipalities in southeastern Wisconsin had tax levy decreases from 2005 to 2006, compared to just five last year. Southeastern Wisconsin s net tax rate in 2006 was $18.78 per $1,000 of assessed value. The village of West Milwaukee (Milwaukee County) had the highest net tax rate at $27.22, while the town of Paris (Kenosha County) had the lowest net tax rate, $9.89. Southeastern Wisconsin s average 2006 property tax bill was $4,088. The village of Oconomowoc Lake (Waukesha County) had the highest average property tax bill, $26,445, based on 2005 average home sale prices. Southeastern Wisconsin s average home sale price in 2005 was $217,631. The village of Oconomowoc Lake (Waukesha County) had the highest average home sale price, $2.1 million. The city of Racine the lowest, $130,815. The cities of Milwaukee and Racine had relatively high property tax rates. Nevertheless, when the average home sale price was used to compute a tax bill, they ranked low in property tax burden. Data and methodology This report used data (from the Wisconsin Department of Revenue) on tax levies and tax rates of municipalities in the seven counties of southeastern Wisconsin. The data were not fully audited and thus were considered preliminary. The tax levy is the amount of money that each taxing jurisdiction (county, municipality, school district, technical college district, tax increment finance district, special district, and the state) budgets to receive from property taxes. These levies were decided in 2005 for the 2006 budgets. To figure the tax rate, each government divides the levy by the total property value (tax base) in its jurisdiction and multiplies the result by 1,000. This calculation allows property tax payments to be distributed evenly among taxpayers according to individual property values. Because each property taxpayer lives within several taxing jurisdictions, the tax rates are added together to arrive at the gross tax rate. However, the net tax rate which determines each taxpayer s payment is the result of subtracting the state tax credit from the gross tax rate. Taxpayers can determine their individual payment by dividing their property value by 1,000 and multiplying the resulting number by the net tax rate. Our analysis of the average residential property tax bill was based on the 2005 average residential home sale price for each municipality as provided by the Multiple Listing Service, Inc. (MLS). For this report, residential properties include single family, two family, and multi-family homes, and condos. Townships are not analyzed separately because MLS reports the average home sale price for communities with the same name (such as the town of Port Washington and the city of Port Washington) as one municipality. In these cases, we applied the net tax rate of the larger municipality to the average sales price. Property tax levies The gross property tax levy for southeastern Wisconsin was about $3.1 billion in 2006, an increase of 2.4% from 2005, but down more than three percentage points from last year s increase of 5.5%. Driving the lower increase was a 0.1% decrease in the school district tax levy. Last year, the school district tax levy increase of 6.9% was the most among the three largest taxing jurisdictions (school districts, counties, and municipalities). NOTE: The Forum does not analyze the other components of the gross tax levy (technical colleges, state, special district, and TIF districts) because although they often have significant changes, they make up a relatively small portion of the total levy. Table 2 (see pages 4-6) shows the changes between 2005 and 2006 in property tax levies for municipalities, counties, and southeastern Wisconsin. The municipal tax levy increased 4%, just below last year s increase of 4.3%. The county tax levy increased 3.4%, compared to 3.2% last year. Of the three major taxing jurisdictions, the county levy was the only one to have a higher one-year change than last year. All seven counties had a lower gross tax levy in- 2

3 One Region One Future crease from 2005 to 2006 than from 2004 to As chart 1 shows, only Milwaukee County had a lower increase two years ago compared to this year s change. Milwaukee County had the largest increase (3.1%) in gross property tax levy from 2005 to 2006 and was the only county with an increase of more than 3%. Walworth County had the next largest increase, 3%. Washington County had an increase of 2.6%, followed by Racine and Kenosha counties, both with roughly 2.3% increases. Last year, the increase in Kenosha County was 6.7%, highest among the seven counties. Ozaukee and Waukesha counties had the lowest increases, 2.1% and 1.2% respectively. Thirty-two municipalities in southeastern Wisconsin had gross tax levy decreases from 2005 to 2006.In part, due to lower school district tax levies, most gross tax levies were somewhat smaller. Last year only five municipalities had decreases. Four municipalities had tax levy increases greater than 10%, down from 14 municipalities last year. Tax rates Several components go into the gross tax rate. For the most part, however, this report looks only at the net tax rate because that s what concerns taxpayers most. That, along with a home s value, determines what is paid in taxes each year. The gross tax REGIONAL REPORT rate in southeastern Wisconsin in 2006 was $19.89 per $1,000 of assessed value. Chart 2 (see page 7) shows the gross tax rate breakdown. School districts made up the largest percentage of the rate, at 42% or $8.44, down one percentage point from last year, coinciding with the decrease in the school district tax levy. Municipalities made up the next largest portion of the gross tax rate, 27% or $5.41. The municipal tax rate was down $0.37 from The other major component is county government which made up 17%, or $3.29, of the gross rate. Both municipal and county tax rates were well below the school district tax rate. The net tax rate for southeastern Wisconsin was $18.78 in 2006, down 7.4% from last year. Milwaukee County had the highest net tax rate, $22.93, the only county above $20. Taxpayers in Kenosha County faced the next highest net tax rate in the region, $ Following closely behind was Racine County with a rate of $ These were the only three counties above $17. Last year, all seven counties had net tax rates above $17. Ozaukee County had a rate of $16.56, followed closely by Walworth and Washington counties with net tax rates of $16.28 and $16.11 respectively. Waukesha County s rate of $15.59 was the lowest in southeastern Wisconsin and the only one below $16. (continued on page 7) Chart 1: 2003 to 2006 aggregate tax s by county Southeastern Wisconsin Milw aukee County Walworth County Washington County 2005 to 2006 gross tax levy increase 2004 to 2005 gross tax levy increase 2003 to 2004 gross tax levy increase Racine County Kenosha County Ozaukee County Waukesha County 0% 1% 2% 3% 4% 5% 6% 7% 8% 3

4 REGIONAL REPORT One Region One Future Table 2: tax s 2006 gross tax levy Gross tax School district tax County tax Municipal tax Kenosha County $243,441, % 0.5% 2.7% 3.6% Town of Brighton $2,996, % 9.6% 1.8% 1.0% Town of Bristol $8,979, % -0.1% 3.5% 9.5% Town of Paris $1,977, % -4.9% -2.4% -2.4% Town of Randall $7,304, % -4.5% -0.1% 4.2% Town of Salem $18,146, % 2.9% 2.9% 4.4% Town of Somers $11,971, % -1.7% 1.1% 22.1% Town of Wheatland $4,878, % 4.1% 4.0% 3.4% Village of Paddock Lake $4,463, % -1.4% 2.5% 4.1% Village of Pleasant Prairie $38,956, % 2.5% 5.4% 2.4% Village of Silver Lake $3,632, % 8.7% 6.9% 3.0% Village of Twin Lakes $14,067, % 8.6% 9.2% 2.6% City of Kenosha $126,067, % -1.7% 1.1% 2.7% Milwaukee County $1,363,533, % 0.8% 3.0% 4.0% Village of Bayside $14,841, % 1.7% -0.7% 4.0% Village of Brown Deer $25,727, % 2.6% -5.0% 2.0% Village of Fox Point $24,814, % -0.5% -4.1% 2.0% Village of Greendale $31,718, % -11.2% 4.8% 2.0% Village of Hales Corners $15,051, % -1.6% 4.1% 2.3% Village of River Hills $11,110, % 2.4% 2.3% 1.4% Village of Shorewood $34,661, % -3.6% 1.0% 2.3% Village of West Milwaukee $8,621, % -3.1% 4.7% 0.6% Village of Whitefish Bay $40,021, % -2.7% 1.4% 3.8% City of Cudahy $28,174, % -6.0% 3.3% 3.0% City of Franklin $72,083, % 2.3% 5.7% 3.9% City of Glendale $43,097, % 3.2% 0.8% 3.8% City of Greenfield $63,778, % 2.1% 3.2% 2.0% City of Milwaukee $645,379, % 3.2% 3.7% 4.9% City of Oak Creek $57,403, % -1.4% -3.7% 2.8% City of St. Francis $13,652, % -1.2% 6.7% 2.1% City of South Milwaukee $28,014, % 4.0% 3.5% 4.5% City of Wauwatosa $108,600, % -0.4% 6.0% 4.7% City of West Allis $96,779, % -5.6% 2.0% 2.7% Ozaukee County $175,465, % -0.6% 3.9% 5.1% Town of Belgium $3,135, % 4.7% 11.5% -16.6% Town of Cedarburg $11,452, % 2.5% 6.2% 2.0% Town of Fredonia $2,706, % -3.2% 3.2% 3.1% Town of Grafton $7,861, % -4.2% 8.3% 5.7% Town of Port Washington $2,765, % -1.5% 10.3% 2.8% Town of Saukville $3,139, % 2.4% 2.0% 0.0% Village of Belgium $2,286, % -7.2% 6.5% 5.3% Village of Fredonia $2,719, % -0.9% -2.9% 14.2% Village of Grafton $19,450, % -6.5% 4.7% 4.3% Village of Saukville $7,174, % -3.0% 8.6% 4.5% Village of Thiensville $6,097, % 1.3% 1.2% -2.1% City of Cedarburg $21,037, % -0.9% 2.4% 1.8% City of Mequon $70,197, % 3.2% 3.1% 8.8% City of Port Washington $14,766, % -10.4% 1.1% 1.0% 4

5 One Region One Future REGIONAL REPORT Table 2: tax s, continued 2006 gross tax Levy Gross tax School district tax County tax levy change Municipal tax Racine County $256,704, % -1.7% 5.5% 4.2% Town of Burlington $9,950, % 1.3% 3.4% 3.2% Town of Caledonia $34,876, % -0.3% 5.2% 2.4% Town of Dover $4,913, % 2.0% 1.7% 2.7% Town of Norway $12,788, % 2.2% 5.7% 4.6% Town of Raymond $6,272, % -6.2% -2.1% 2.0% Town of Rochester $3,903, % 2.9% % 6.6% Town of Waterford $11,348, % -5.8% 0.2% 3.2% Town of Yorkville $6,529, % 0.4% 3.0% 5.6% Village of Elmwood Park $689, % -3.1% 3.7% 10.4% Village of Mount Pleasant $40,137, % -2.1% 4.6% 5.9% Village of North Bay $615, % -9.5% -3.4% 0.0% Village of Rochester $1,145, % -3.9% -0.5% 26.7% Village of Sturtevant $7,416, % 2.2% 9.2% 7.2% Village of Union Grove $5,632, % -2.7% 0.4% 5.4% Village of Waterford $7,986, % 10.8% 14.9% 7.0% Village of Wind Point $4,016, % -0.6% 6.2% 0.0% City of Burlington $15,679, % -4.5% -1.5% 3.4% City of Racine $82,801, % -4.4% 2.5% 4.0% Walworth County $200,514, % 0.6% 4.5% 4.2% Town of Bloomfield $8,001, % 0.1% 7.5% 3.4% Town of Darien $1,988, % 8.2% 5.4% -1.8% Town of Delavan $14,394, % 6.5% 5.1% 2.6% Town of East Troy $9,628, % -0.5% 3.5% 2.0% Town of Geneva $11,507, % 4.8% 9.5% 5.6% Town of La Fayette $3,043, % -4.2% 5.1% 8.0% Town of La Grange $9,252, % -1.4% 7.6% 2.0% Town of Linn $19,445, % 2.9% 5.7% 1.9% Town of Lyons $6,407, % -3.1% 1.5% 2.1% Town of Richmond $3,327, % 3.1% 3.2% 5.0% Town of Sharon $1,261, % 0.6% -1.2% 0.9% Town of Spring Prairie $3,354, % 4.3% 7.7% 2.1% Town of Sugar Creek $4,763, % -2.1% 8.2% 3.3% Town of Troy $3,680, % 3.8% 8.5% 3.3% Town of Walworth $2,903, % -3.9% -0.7% 2.0% Town of Whitewater $4,273, % 2.6% 3.3% 2.1% Village of Darien $2,245, % 1.9% -0.7% 2.7% Village of East Troy $5,671, % -0.6% 3.4% 5.2% Village of Fontana $13,543, % 3.1% 5.0% 3.2% Village of Genoa City $3,962, % -6.9% 2.2% 9.1% Village of Sharon $1,813, % 2.1% -1.4% 2.9% Village of Walworth $3,768, % -1.1% 3.4% 7.1% Village of Williams Bay $9,224, % 3.1% 4.5% 2.0% City of Delavan $11,700, % 4.8% 2.2% 5.8% City of Elkhorn $11,330, % -4.6% 7.0% 6.9% City of Lake Geneva $20,279, % -4.4% 1.0% 2.3% City of Whitewater $9,690, % -3.7% -3.0% 8.1% Washington County $201,654, % 0.5% 3.5% 4.5% Town of Addison $4,765, % -5.3% 1.5% 2.3% Town of Barton $3,743, % -0.3% 2.5% 2.2% Town of Erin $7,920, % -4.4% 0.6% 0.0% 5

6 REGIONAL REPORT One Region One Future Table 2: tax s, continued 2006 gross tax Levy Gross tax School district tax County tax Municipal tax Town of Farmington $4,934, % 7.7% 3.2% 3.2% Town of Germantown $351, % 0.1% 0.3% 1.9% Town of Hartford $5,625, % -1.4% 4.2% 0.9% Town of Jackson $5,692, % 3.2% 4.8% 5.4% Town of Kewaskum $1,752, % 7.2% 2.8% 3.1% Town of Polk $7,322, % -2.4% 3.8% 2.4% Town of Richfield $21,479, % 3.3% 5.1% 3.5% Town of Trenton $5,580, % -1.4% 3.6% 3.9% Town of Wayne $2,422, % 11.5% 6.8% 0.0% Town of West Bend $10,395, % -3.5% 2.3% 1.7% Village of Germantown $40,037, % 0.9% 1.1% 3.5% Village of Jackson $7,722, % -1.2% 4.0% 6.3% Village of Kewaskum $4,287, % 10.0% 5.5% 5.3% Village of Newburg $1,065, % -4.3% 0.7% 3.6% Village of Slinger $6,647, % -5.8% 1.1% 5.6% City of Hartford $18,387, % 5.1% 10.7% 6.3% City of West Bend $41,497, % -1.9% 3.1% 5.0% Waukesha County $761,082, % -1.0% 2.9% 3.8% Town of Brookfield $15,467, % -6.4% -0.6% 0.0% Town of Delafield $19,691, % 1.3% 7.9% 2.3% Town of Eagle $5,528, % 5.5% 7.7% 3.8% Town of Genesee $11,183, % -2.6% 5.0% 1.5% Town of Lisbon $15,211, % -1.0% 7.4% 8.2% Town of Merton $18,976, % 0.0% 5.8% 1.9% Town of Mukwonago $10,481, % 0.4% 8.5% 2.7% Town of Oconomowoc $17,266, % -3.5% 7.7% 2.0% Town of Ottawa $7,129, % -1.1% 6.5% -0.7% Town of Summit $11,828, % -2.4% 7.7% 4.4% Town of Vernon $9,992, % -5.7% 1.9% 1.9% Town of Waukesha $11,997, % -4.1% 3.6% 1.9% Village of Big Bend $2,148, % -3.9% 2.7% 1.9% Village of Butler $4,522, % -10.4% -4.4% 2.0% Village of Chenequa $7,647, % 6.5% 13.5% 2.0% Village of Dousman $2,431, % -1.9% 5.7% 3.7% Village of Eagle $2,485, % 4.6% 1.8% 0.0% Village of Elm Grove $19,057, % 2.1% -0.7% 2.0% Village of Hartland $17,927, % 0.9% 5.6% 6.7% Village of Lac La Belle $1,993, % -0.3% 11.5% 5.0% Village of Lannon $1,612, % -6.3% 0.1% 8.8% Village of Menomonee Falls $70,286, % -6.2% 2.1% 2.2% Village of Merton $4,210, % 18.5% 30.7% 21.3% Village of Mukwonago $10,788, % 2.3% 9.4% 1.3% Village of Nashotah $2,832, % -3.2% 3.1% 7.4% Village of North Prairie $3,162, % -4.5% 3.3% 5.9% Village of Oconomowoc Lake $5,377, % 1.5% 13.5% 1.8% Village of Pewaukee $16,217, % 5.7% 3.5% 3.4% Village of Sussex $16,798, % -1.6% 4.0% 10.8% Village of Wales $4,173, % 2.0% 9.9% 12.6% City of Brookfield $108,853, % 3.7% 1.0% 2.1% City of Delafield $18,410, % 0.4% 6.7% 5.7% City of Muskego $40,154, % -2.5% 2.3% 1.9% City of New Berlin $80,490, % -0.8% -0.1% 2.4% City of Oconomowoc $25,864, % -5.6% 4.5% 9.5% City of Pewaukee $37,270, % 0.3% -8.3% 9.2% City of Waukesha $101,169, % -4.2% 2.4% 5.2% Southeastern Wisconsin $3,202,396, % -0.1% 3.4% 4.0% 6

7 One Region One Future REGIONAL REPORT The village of West Milwaukee (Milwaukee County) had the highest net tax rate in southeastern Wisconsin at $ Only two municipalities that were ranked in the top 10 in southeastern Wisconsin in net tax rate were not in Milwaukee County - the villages of Sharon and Darien, both in Walworth County. The village of Bayside (Milwaukee County) was the only municipality in the top 10 this year that was not there last year. The city of Milwaukee s net tax rate of $23.54 ranked 10th versus 8th last year. Only three cities ranked in the bottom half of all municipalities in net tax rate, in large part because a city typically provides more municipal services than villages or townships. Also, a city s dense population requires more intense fire and police protection. The 14 lowest ranked municipalities in net tax rates were towns. The tax rates for all townships in southeastern Wisconsin are in table 3 (see next page). The town of Paris (Racine County) had the lowest net tax rate at $9.89 and was the only municipality under $10. There were eight towns ranked in the top half of all municipalities in southeastern Wisconsin. The town of Sharon ranked 41st, the highest ranking among townships. All but two municipalities in southeastern Wisconsin lowered their net tax rate from 2005 to The village of Fredonia (Ozaukee County) and the town of Rochester (Racine County) were the only two to raise their rates. Tax bills Last year, for the first time, we looked at what a tax bill might look like for a new home buyer in southeastern Wisconsin. We did this by applying the net tax rate to the average home sale price for each municipality. We found that although tax rates are decreasing in almost every municipality, the average tax bill is not because of increasing home sale prices. Table 5 (see pages 10-11) shows the net tax rate, average home sale price, and net tax bill, for all villages and cities in southeastern Wisconsin. The average home sale price in southeastern Wisconsin in 2005 was $217,631, an increase of 8.9%. Waukesha County had the highest average home sale price among the seven counties at $299,023. Four of the seven counties in southeastern had average home sale prices greater than $200,000; Kenosha, Racine, and Milwaukee counties had prices under $200,000. Six of the seven counties had an increase in the average home sale price. Ozaukee County s average home sale price decreased 1.2%. The region s average home sale price in 2005 ranged from $130,815 in the city of Racine to $2.1 million in the village of Oconomowoc Lake (Waukesha County). When the average home sale price was applied to the net tax rate, it showed that the home value had more bearing on taxes than the tax rate. Thus, the average net tax bill in southeastern Wisconsin increased 0.9% from 2005 to 2006, even though the net tax rate decreased 7.4%. Chart 2: Southeastern Wisconsin gross tax rate by component, 2006 State 1% Special district 3% TIF 3% Municipal 27% School district 42% County 17% Technical college 7% 7

8 REGIONAL REPORT One Region One Future Table 3: Net tax rates Towns 2006 net tax rate 2005 net tax rate Net tax rate change Kenosha County $ % Town of Brighton $ % Town of Bristol $ % Town of Paris $ % Town of Randall $ % Town of Salem $ % Town of Somers $ % Town of Wheatland $ % Milwaukee County $ % Ozaukee County $ % Town of Belgium $ % Town of Cedarburg $ % Town of Fredonia $ % Town of Grafton $ % Town of Port Washington $ % Town of Saukville $ % Racine County $ % Town of Burlington $ % Town of Caledonia $ % Town of Dover $ % Town of Norway $ % Town of Raymond $ % Town of Rochester $ % Town of Waterford $ % Town of Yorkville $ % Walworth County $ % Town of Bloomfield $ % Town of Darien $ % Town of Delavan $ % Town of East Troy $ % Town of Geneva $ % Town of La Fayette $ % Town of La Grange $ % Town of Linn $ % Town of Lyons $ % Town of Richmond $ % Town of Sharon $ % Town of Spring Prairie $ % Town of Sugar Creek $ % Town of Troy $ % Town of Walworth $ % Town of Whitewater $ % 2006 net tax rate 2005 net tax rate Net tax rate change Washington County $ % Town of Addison $ % Town of Barton $ % Town of Erin $ % Town of Farmington $ % Town of Germantown $ % Town of Hartford $ % Town of Jackson $ % Town of Kewaskum $ % Town of Polk $ % Town of Richfield $ % Town of Trenton $ % Town of Wayne $ % Town of West Bend $ % Waukesha County $ % Town of Brookfield $ % Town of Delafield $ % Town of Eagle $ % Town of Genesee $ % Town of Lisbon $ % Town of Merton $ % Town of Mukwonago $ % Town of Oconomowoc $ % Town of Ottawa $ % Town of Summit $ % Town of Vernon $ % Town of Waukesha $ % Southeastern Wisconsin $ % State of Wisconsin $

9 One Region One Future REGIONAL REPORT Ozaukee County had the highest average tax bill of the seven counties, $4,852, and the second highest average home sale price. Racine County had the lowest average tax bill, $3,388, and the next to lowest average home sale price. Although only two municipalities increased their net tax rates in southeastern Wisconsin between 2005 and 2006, 37 of the 84 villages and cities had increases in the average tax bill. The village of Oconomowoc Lake had the highest tax bill, $26,445 on average. The village of Newburg (Washington County) had the lowest, $2,186, although there were less than five homes sold in Newburg in The city of Racine had the next lowest tax bill, $2,918. Table 4 highlights the largest and smallest average tax bills in the region. Of the top 10 average tax bills, nine were in Milwaukee or Waukesha county, with the tenth in Ozaukee County (city of Mequon). Only two municipalities - the village of Shorewood and Bayside, both in Milwaukee County - were in the top 10 in both net tax rate and average net taxes. Not only did taxpayers in these municipalities have a high net tax bill, but the tax rates were among the highest in the region. Only one - the village of Elmwood Park in Racine County - was in the bottom 10 in the region in both net tax rate and average home sale price. The city of Milwaukee was 10th in net tax rate, but 74th (out of 84) in average taxes. Table 4: Average tax bills in southeastern Wisconsin, 2006 Top 10 Bottom 10 Village of Oconomowoc Lake $26,445 Village of Kewaskum $3,368 Village of Chenequa $21,623 Village of Big Bend $3,331 Village of River Hills $15,751 Village of Lannon $3,316 Village of Lac La Belle $10,946 Village of Paddock Lake $3,271 Village of Fox Point $8,654 City of Elkhorn $3,241 Village of Shorewood $8,141 Village of Mount Pleasant $3,147 Village of Whitefish Bay $7,688 Village of Elmwood Park $3,125 Village of Bayside $7,609 Village of Butler $3,046 Village of Elm Grove $7,363 City of Racine $2,918 City of Mequon $6,808 Village of Newburg $2,186 9

10 REGIONAL REPORT One Region One Future Table 5: 2006 net tax rate and average tax bill 2006 net tax rate Rank 2005 average home sale price Rank 2006 average tax bill Rank Kenosha County $ $196, $3, Village of Paddock Lake $ $176, $3, Village of Pleasant Prairie $ $254, $4, Village of Silver Lake $ $201, $3, Village of Twin Lakes $ $252, $4, City of Kenosha $ $167, $3, Milwaukee County $ $176, $4, Village of Bayside $ $319, $7,609 8 Village of Brown Deer $ $155, $3, Village of Fox Point $ $376, $8,654 5 Village of Greendale $ $224, $5, Village of Hales Corners $ $216, $4, Village of River Hills $ $704,829 4 $15,751 3 Village of Shorewood $ $345, $8,141 6 Village of West Milwaukee $ $153, $4, Village of Whitefish Bay $ $363, $7,688 7 City of Cudahy $ $161, $3, City of Franklin $ $232, $5, City of Glendale $ $211, $4, City of Greenfield $ $192, $4, City of Milwaukee $ $146, $3, City of Oak Creek $ $213, $4, City of St. Francis $ $177, $4, City of South Milwaukee $ $162, $3, City of Wauwatosa $ $237, $4, City of West Allis $ $160, $3, Ozaukee County $ $292, $4, Village of Belgium $ $226, $3, Village of Fredonia $ $221, $4, Village of Grafton $ $255, $4, Village of Saukville $ $206, $3, Village of Thiensville $ $209, $3, City of Cedarburg $ $309, $5, City of Mequon $ $414,545 7 $6, City of Port Washington $ $201, $3, Racine County $ $184, $3, Village of Elmwood Park $ $208, $3, Village of Mount Pleasant $ $188, $3, Village of North Bay $ $390, $6, Village of Rochester $ $244, $3, Village of Sturtevant $ $192, $3, Village of Union Grove $ $189, $3, Village of Waterford $ $269, $5, Village of Wind Point $ $359, $5, City of Burlington $ $211, $4, City of Racine $ $130, $2,

11 One Region One Future REGIONAL REPORT Table 5: 2006 net tax rate and average tax bill, continued 2006 net tax rate Rank 2005 average home sale price Rank 2006 average tax bill Rank Walworth County $ $265, $4, Village of Darien $ $183, $4, Village of East Troy $ $304, $5, Village of Fontana $ $412,976 8 $6, Village of Genoa City $ $163, $3, Village of Sharon $ $170, $4, Village of Walworth $ $233, $4, Village of Williams Bay $ $287, $4, City of Delavan $ $215, $4, City of Elkhorn $ $178, $3, City of Lake Geneva $ $217, $4, City of Whitewater $ $236, $4, Washington County $ $225, $3, Village of Germantown $ $253, $4, Village of Jackson $ $236, $3, Village of Kewaskum $ $186, $3, Village of Newburg $ $142,500* 83 $2, Village of Slinger $ $190, $3, City of Hartford $ $204, $3, City of West Bend $ $197, $3, Waukesha County $ $299, $4, Village of Big Bend $ $194, $3, Village of Butler $ $172, $3, Village of Chenequa $ $1,464,600 2 $21,623 2 Village of Dousman $ $314, $4, Village of Eagle $ $294, $4, Village of Elm Grove $ $412,711 9 $7,363 9 Village of Hartland $ $330, $5, Village of Lac La Belle $ $842,800 3 $10,946 4 Village of Lannon $ $202, $3, Village of Menomonee Falls $ $274, $4, Village of Merton $ $478,979 5 $6, Village of Mukwonago $ $263, $4, Village of Nashotah $ $303, $4, Village of North Prairie $ $305, $4, Village of Oconomowoc Lake $ $2,076,000 1 $26,445 1 Village of Pewaukee $ Village of Sussex $ $294, $4, Village of Wales $ $321, $4, City of Brookfield $ $331, $5, City of Delafield $ $432,146 6 $6, City of Muskego $ $283, $4, City of New Berlin $ $253, $4, City of Oconomowoc $ $324, $4, City of Pewaukee $ $291, $4, City of Waukesha $ $224, $4, Southeastern Wisconsin $ $217, $4, *Less than five homes were sold in

12 REGIONAL REPORT One Region One Future 2006 Property Tax Report Defying conventional wisdom Nonprofit Org. U.S. Postage PAID Milwaukee, WI Permit No. 267 One Region One Future 12