Cottage Grove, Wisconsin Property Taxes
The median property tax rate in Cottage Grove, WI, is 1.84%, significantly higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $302,400 in Cottage Grove, the typical annual property tax bill reaches $5,271, far exceeding the national median of $2,690. Property taxes in Cottage Grove are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cottage Grove'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 Cottage Grove or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cottage Grove, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$5,564
Ownwell’s Cottage Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cottage Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cottage Grove 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 Cottage Grove, Wisconsin
Property taxes in Cottage Grove, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cottage Grove is 1.84%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Cottage Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cottage Grove 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 Cottage Grove's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53527 has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Cottage Grove 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 Cottage Grove Tax Rate
1.84%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cottage Grove, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53527 | 1.52% | 1.54% | 1.84% | 1.89% | 1.95% |
Source: Ownwell
Property Tax Assessment Values Across Cottage Grove, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cottage Grove, Wisconsin. The market value represents 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 local assessment authority 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. Assessment notices in Cottage Grove 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. The median home price in the area is $302,400, and understanding these valuation concepts can help property owners better navigate their tax responsibilities. For reference, the highest and lowest median tax bills in the region are both $5,271, found in zip code 53527. By being aware of these processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Cottage Grove, Wisconsin
Source: Ownwell
$33,800
$338,500
$643,200
Average Cottage Grove Assessed Value
$302,400
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 Cottage Grove, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53527 | $191,950 | $251,800 | $302,400 | $372,475 | $473,750 |
Source: Ownwell
Property Tax Bills Across Cottage Grove, Wisconsin
In Cottage Grove, located in Dane County, WI, property tax bills are calculated based on the assessed value of the home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or deductions. For example, the median home price in Cottage Grove is $302,400, and tax bills can vary significantly. Homeowners in the 25th percentile face tax bills around $4,282, while those in the 75th percentile see bills closer to $6,704. At the 90th percentile, tax bills can reach up to $8,553. These tax bills can have a substantial impact on homeowners, influencing decisions about purchasing or staying in a home. Compared to the national median property tax rate of 0.99%, Cottage Grove's tax rates are relatively higher, reflecting the area's property values and local government funding needs. Understanding these factors is essential for homeowners to manage their financial planning effectively.
Average Cottage Grove Tax Bill
$5,271
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Cottage Grove, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53527 | $3,360 | $4,282 | $5,271 | $6,704 | $8,553 |
Source: Ownwell