Deerfield, Wisconsin Property Taxes
The median property tax rate in Deerfield, WI is 1.61%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Deerfield, the typical annual property tax bill reaches $4,192, exceeding the national median of $2,690. Property taxes in Deerfield 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 Deerfield'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 Deerfield 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
Deerfield, 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 Deerfield Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Deerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deerfield to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For more detailed trends at the neighborhood level, scroll down to access localized information. Your property’s assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Deerfield, Wisconsin
Property taxes in Deerfield, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Deerfield is 1.61%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Deerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deerfield 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 Deerfield's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53531 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these areas compare with Deerfield 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 Deerfield Tax Rate
1.61%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deerfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53531 | 1.44% | 1.57% | 1.61% | 1.68% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Deerfield, Wisconsin
In Deerfield, 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 Deerfield, 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. Deerfield residents face a median home price of $259,000, with property tax bills ranging from $3,220 at the 25th percentile to $7,119 at the 90th percentile. The highest median tax bill in the area is $4,192, found in zip code 53531. 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 Deerfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deerfield Assessed Value
$259,000
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 Deerfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53531 | $139,480 | $201,950 | $259,000 | $340,700 | $438,620 |
Source: Ownwell
Property Tax Bills Across Deerfield, Wisconsin
In Deerfield, located in Dane County, WI, property tax bills are calculated based on the assessed value of your home and the local tax rate. The local tax rate is applied to the assessed value to determine the annual tax bill. Several factors influence the assessed value, including the market value of similar homes in the area, property size, and any improvements made to the property. For homeowners in Deerfield, the median home price stands at $259,000. The tax bill can vary significantly, with the 25th percentile at $3,220 and the 75th percentile reaching $5,579. At the 90th percentile, homeowners may see tax bills as high as $7,119. When compared to the national median property tax rate of 0.99%, Deerfield's property tax rates can be relatively high, affecting homeowners' annual expenses. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, making them a crucial aspect of homeownership in Deerfield.
Average Deerfield Tax Bill
$4,192
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Deerfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53531 | $2,206 | $3,220 | $4,192 | $5,579 | $7,119 |
Source: Ownwell