Oconomowoc Lake property owners had an effective property tax rate of 3.4% on their homes in the fourth quarter of 2025. That figure is more than 3.8 times the national average, according to BlockShopper.com.
Home sales data show the median sale price for an Oconomowoc Lake property in the fourth quarter of 2025 was $449,000, based on nine transactions over that span. The city’s median property tax bill for 2025 totaled $15,170, which equates to 3.4% of the assessed median home value.
The U.S. average effective property tax rate stood at 0.888% in 2024.
Within Waukesha County, Oconomowoc Lake ranked among the top three cities with the highest effective rates, along with Lac La Belle and Chenequa.
This analysis uses inflation-adjusted values and 2024 county tax data to estimate the 2025 effective property tax rate. Note that the actual rate may differ slightly in some cases.
Nationally, home prices tracked upward in 2025, with the median home price near $447,000 by June—a 1.13% increase from the prior year, according to Redfin data. There was also a large supply-demand imbalance, with 36% more sellers than buyers (a difference of 508,715 units). Redfin considers a balanced market when seller and buyer numbers differ by no more than 10%.
The table below presents effective property tax rates for Oconomowoc Lake and other cities in Waukesha County, based on home sales and tax information from the fourth quarter of 2025:
| City | Q4 2025 Sales | Q4 2025 Median Price | Median tax 2025 | Effective tax rate |
|---|---|---|---|---|
| Oconomowoc Lake | 9 | $449,000 | $15,170 | 3.4% |
| Lac La Belle | 10 | $476,300 | $16,349 | 3.4% |
| Chenequa | 8 | $587,500 | $19,435 | 3.3% |
| Elm Grove | 50 | $580,800 | $7,840 | 1.3% |
| Lannon | 17 | $345,000 | $4,478 | 1.3% |
| Waukesha | 206 | $371,950 | $4,503 | 1.2% |
| Sussex | 74 | $427,200 | $5,220 | 1.2% |
| Summit | 44 | $557,500 | $6,469 | 1.2% |
| New Berlin | 376 | $399,950 | $4,361 | 1.1% |
| Merton | 25 | $515,000 | $5,606 | 1.1% |
| Delafield | 65 | $566,100 | $6,230 | 1.1% |
| Mukwonago | 49 | $375,000 | $4,123 | 1.1% |
| Oconomowoc | 184 | $441,500 | $4,724 | 1.1% |
| Dousman | 17 | $480,500 | $5,146 | 1.1% |
| Menomonee Falls | 293 | $398,250 | $4,072 | 1% |
| Brookfield | 82 | $449,000 | $4,695 | 1% |
| Butler | 12 | $299,900 | $3,017 | 1% |
| Hartland | 56 | $409,625 | $4,158 | 1% |
| Okauchee Lake | 50 | $491,000 | $5,083 | 1% |
| Wales | 41 | $450,000 | $4,519 | 1% |
| Muskego | 181 | $433,000 | $4,149 | 1% |
| Pewaukee | 212 | $397,500 | $3,844 | 1% |
| Eagle | 19 | $358,400 | $3,340 | 0.9% |
| North Prairie | 14 | $484,950 | $3,807 | 0.8% |
| Vernon | 58 | $450,500 | $3,510 | 0.8% |
| Nashotah | 15 | $748,500 | $4,659 | 0.6% |
| Big Bend | 3 | $663,400 | $3,304 | 0.5% |
