Bloomington, Wisconsin Property Taxes
The median property tax rate in Bloomington, WI is 1.25%, which is higher than both the national median of 0.99% and Wisconsin's state median of 1.58%. With a median home value of $90,700 in Bloomington, the typical annual property tax bill reaches $1,100, exceeding the national median of $2,690. Property taxes in Bloomington 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 Bloomington'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 Bloomington 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
Bloomington, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$1,134
Ownwell’s BLOOMINGTON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLOOMINGTON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLOOMINGTON 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 Bloomington, Wisconsin
Property taxes in Bloomington, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bloomington is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bloomington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bloomington 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 Bloomington's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53804 has both the highest and lowest median property tax rate in the region at 1.25%. Understanding how these rates compare with Bloomington provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bloomington Tax Rate
1.25%
Average Grant County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bloomington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53804 | 1.03% | 1.09% | 1.25% | 1.56% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Bloomington, Wisconsin
In Bloomington, 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 Grant 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 Bloomington, 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. For instance, the highest median tax bill in Bloomington is $1,100 in the 53804 zip code. 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 Bloomington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bloomington Assessed Value
$90,700
Average Grant County Assessed Value
$141,950
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bloomington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53804 | $27,250 | $47,750 | $90,700 | $124,675 | $197,230 |
Source: Ownwell
Property Tax Bills Across Bloomington, Wisconsin
In Bloomington, WI, property tax bills are calculated based on the assessed value of your home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to calculate your annual tax bill. For homeowners in Bloomington, the median home price is $90,700. Factors influencing your tax bill include the assessed value of your home, any applicable exemptions, and the local tax rate. In this region, the 25th percentile tax bill is around $550, while the 75th percentile tax bill reaches $1,597. For those at the higher end, the 90th percentile tax bill can be as much as $2,900. Compared to the national median property tax rate of 0.99%, Bloomington's tax rates can vary significantly depending on the specific location within the county. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Bloomington Tax Bill
$1,100
Average Grant County Tax Bill
$2,159
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Bloomington, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53804 | $284 | $550 | $1,100 | $1,597 | $2,900 |
Source: Ownwell