Barneveld, Wisconsin Property Taxes
The median property tax rate in Barneveld, WI is 1.64%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Barneveld at $392,500, the typical annual property tax bill reaches $6,429, exceeding the national median of $2,690. Property taxes in Barneveld are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Barneveld's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Barneveld or another part of Dane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barneveld, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Barneveld Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barneveld with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barneveld to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Barneveld, Wisconsin
Property taxes in Barneveld, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barneveld is 1.64%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Barneveld set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barneveld estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Barneveld's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53507 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these areas compare with Barneveld provides valuable insights into the varying tax landscape across Dane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barneveld Tax Rate
1.64%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barneveld, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53507 | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Barneveld, Wisconsin
In Barneveld, Wisconsin, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Dane County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Barneveld, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Barneveld is $392,500, and the highest and lowest median tax bills are both $6,429 in the zip code 53507. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Barneveld helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Barneveld Assessed Value
$392,500
Average Dane County Assessed Value
$304,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barneveld, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53507 | $392,500 | $392,500 | $392,500 | $392,500 | $392,500 |
Source: Ownwell
Property Tax Bills Across Barneveld, Wisconsin
In Barneveld, located in Dane County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For homeowners in Barneveld, the median home price stands at $392,500, significantly influencing the tax bill. A notable aspect of Barneveld’s property tax landscape is the uniformity in tax bills, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $6,429. This consistency suggests a stable and predictable tax environment for homeowners. When compared to the national median property tax rate of 0.99%, Barneveld's tax rate results in higher annual tax payments, reflecting the area's property values and local government funding needs. Understanding these factors helps homeowners anticipate their annual expenses and plan their finances accordingly, ensuring they are prepared for their property tax obligations.
Average Barneveld Tax Bill
$6,429
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Barneveld, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53507 | $6,429 | $6,429 | $6,429 | $6,429 | $6,429 |
Source: Ownwell