Randolph, Wisconsin Property Taxes
The median property tax rate in Randolph, WI is 0.20%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Randolph, the typical annual property tax bill stands at $284, well below the national median of $2,690. Property taxes in Randolph are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Randolph'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 Randolph 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
Randolph, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.2%
Estimate Property Tax Bill
$307
Ownwell’s Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Wisconsin
Property taxes in Randolph, Wisconsin, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Randolph is 0.20%, significantly lower than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest median property tax rate in the region is found in zip code 54665, with a rate of 1.74%, while the lowest median tax rate is in zip code 54981, with a rate of 0.15%. Understanding how these cities compare with Randolph 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 Randolph Tax Rate
0.20%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53956 | 0.14% | 0.16% | 0.20% | 0.21% | 0.23% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Wisconsin
In Randolph, 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 local assessment authorities 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 53956 at $284, while the zip code with the lowest median tax bill is also 53956 at $284.
Average Randolph Assessed Value
$153,700
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 Randolph, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53956 | $33,700 | $107,150 | $153,700 | $221,650 | $319,500 |
Source: Ownwell
Property Tax Bills Across Randolph, Wisconsin
In Randolph, located in Dodge County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and represents the market value of the property. This value is then multiplied by the local tax rate to calculate the annual tax bill. For instance, the median home price in Randolph is $153,700. Several factors influence the final tax bill, including property improvements, location, and market conditions. Homeowners in Randolph can expect their tax bills to vary significantly. At the 25th percentile, tax bills are around $188, while at the 75th percentile, they rise to approximately $387. For those at the 90th percentile, the tax bill can reach up to $532. These property taxes fund essential services such as public schools, infrastructure, and emergency services, directly impacting the quality of life for Randolph residents. Understanding how these taxes are calculated helps homeowners plan their finances and anticipate future tax obligations.
Average Randolph Tax Bill
$284
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53956 | $76 | $188 | $284 | $387 | $532 |
Source: Ownwell