Lomira, Wisconsin Property Taxes
The median property tax rate in Lomira, WI is 0.16%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $193,600 in Lomira, the typical annual property tax bill is $291, far below the national median of $2,690. Property taxes in Lomira are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lomira's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lomira or another part of Dodge County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lomira, 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 Lomira Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lomira with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lomira 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 Lomira, Wisconsin
Property taxes in Lomira, Wisconsin, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Lomira stands at 1.76%, which is significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Lomira set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lomira 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 Lomira's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53032 zip code has the highest median property tax rate of 2.42%, while the 53963 zip code has the lowest median tax rate of 1.5%. Understanding how these cities compare with Lomira provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lomira Tax Rate
0.16%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | 0.13% | 0.14% | 0.16% | 0.16% | 0.17% |
Source: Ownwell
Property Tax Assessment Values Across Lomira, Wisconsin
In Lomira, 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 Dodge County Appraisal District 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 Lomira, 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 Lomira helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Lomira are both $291.00, found in the zip code 53048.
Average Lomira Assessed Value
$193,600
Average Dodge County Assessed Value
$188,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | $123,050 | $157,450 | $193,600 | $243,150 | $293,250 |
Source: Ownwell
Property Tax Bills Across Lomira, Wisconsin
In Lomira, located in Dodge County, WI, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is an estimate of the property's market value as determined by local assessors. Homeowners in Lomira face a property tax rate that aligns closely with the national median of 0.99%. For instance, with a median home price of $193,600, the tax bill can vary significantly based on several factors, including the property's location and any applicable exemptions. The tax bill for Lomira homes typically falls between $229 at the 25th percentile and $382 at the 75th percentile, with the 90th percentile reaching up to $458. This range reflects the variability in home values and tax rates within the area. Homeowners should be aware that these taxes fund essential local services such as schools, infrastructure, and emergency services, which directly impact the community's quality of life. Understanding the components of their property tax bills can help homeowners better manage their finances and potentially seek tax appeal or exemption services if necessary.
Average Lomira Tax Bill
$291
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lomira, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53048 | $185 | $229 | $291 | $382 | $458 |
Source: Ownwell