Dane, Wisconsin Property Taxes
The median property tax rate in Dane, WI is 1.82%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Dane, the typical annual property tax bill reaches $5,525, exceeding the national median of $2,690. Property taxes in Dane 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 Dane'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 Dane 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
Dane, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$5,615
Ownwell’s Dane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dane 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 Dane, Wisconsin
Property taxes in Dane, Wisconsin, play a crucial role in funding essential local services, such as public schools, road maintenance, and emergency services. The median tax rate in Dane is 1.82%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Dane set these rates annually, and they can vary across different neighborhoods. Each year, Dane 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 Dane's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53529 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these cities compare with Dane 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 Dane Tax Rate
1.82%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53529 | 1.39% | 1.49% | 1.82% | 2.05% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Dane, Wisconsin
In Dane, 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 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 Dane, 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. 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 Dane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 53529 at $5,525, which is also the lowest median tax bill in the area.
Average Dane Assessed Value
$308,500
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 Dane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53529 | $165,700 | $217,000 | $308,500 | $395,400 | $500,640 |
Source: Ownwell
Property Tax Bills Across Dane, Wisconsin
In Dane, 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 tax rate to determine the annual tax bill. For instance, with a median home price of $308,500, homeowners in Dane can expect varying tax bills. The 25th percentile tax bill is around $4,038, while the 75th percentile tax bill reaches approximately $7,086. At the 90th percentile, the tax bill can rise to about $8,053. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Dane's tax rates can result in relatively high tax bills, impacting homeowners significantly. For example, the highest and lowest median tax bills in Dane are both $5,525, indicating a consistent tax rate across different areas within the city. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly affecting the quality of life for residents.
Average Dane Tax Bill
$5,525
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Dane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53529 | $2,950 | $4,038 | $5,525 | $7,086 | $8,053 |
Source: Ownwell