Mazomanie, Wisconsin Property Taxes
The median property tax rate in Mazomanie, WI is 1.74%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mazomanie at $228,100, the typical annual property tax bill reaches $4,233, exceeding the national median of $2,690. Property taxes in Mazomanie 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 Mazomanie'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 Mazomanie 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
Mazomanie, 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 Mazomanie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mazomanie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mazomanie 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 Mazomanie, Wisconsin
Property taxes in Mazomanie, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mazomanie is 1.74%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mazomanie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mazomanie 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 Mazomanie's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 53560 zip code has the highest median property tax rate of 1.74%, while the 53562 zip code has the lowest median tax rate of 1.46%. Understanding how these areas compare with Mazomanie 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 Mazomanie Tax Rate
1.74%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mazomanie, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53560 | 1.38% | 1.60% | 1.74% | 1.97% | 2.19% |
| 53562 | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Mazomanie, Wisconsin
In Mazomanie, 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 Mazomanie, 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. For instance, the highest median tax bill in Dane County is $4,659 in the 53562 zip code, while the lowest is $4,228 in the 53560 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mazomanie Assessed Value
$228,100
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 Mazomanie, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53560 | $64,900 | $169,800 | $228,100 | $315,600 | $398,980 |
| 53562 | $319,300 | $319,300 | $319,300 | $319,300 | $319,300 |
Source: Ownwell
Property Tax Bills Across Mazomanie, Wisconsin
In Mazomanie, located in Dane County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition, as well as recent sales of similar properties in the area. For homeowners in Mazomanie, the median home price stands at $228,100. Property tax bills can vary significantly, with the 25th percentile at $2,899, the 75th percentile at $5,724, and the 90th percentile reaching up to $7,182. These figures are notably higher than the national median property tax rate of 0.99%. The highest median tax bill in the area is $4,659 in the 53562 zip code, while the lowest is $4,228 in the 53560 zip code. Understanding these factors can help homeowners anticipate their property tax obligations and budget accordingly.
Average Mazomanie Tax Bill
$4,233
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mazomanie, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53560 | $995 | $2,897 | $4,228 | $5,725 | $7,183 |
| 53562 | $4,659 | $4,659 | $4,659 | $4,659 | $4,659 |
Source: Ownwell