Lancaster, Wisconsin Property Taxes
The median property tax rate in Lancaster, WI is 1.32%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Lancaster at $153,000, the typical annual property tax bill reaches $1,946, which is below the national median of $2,690. Property taxes in Lancaster 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 Lancaster'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 Lancaster 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
Lancaster, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,020
Ownwell’s Lancaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lancaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lancaster 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 Lancaster, Wisconsin
Property taxes in Lancaster, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lancaster is 1.32%, which is higher than the U.S. national median of 0.99%. Local government entities within Lancaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lancaster 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 Lancaster's effective property tax rate to other areas in Grant County and the national median. For comparison, the zip code 53813 has both the highest and lowest median property tax rate of 1.32%. Understanding how these areas compare with Lancaster 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 Lancaster Tax Rate
1.32%
Average Grant County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lancaster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53813 | 1.08% | 1.15% | 1.32% | 1.40% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster, Wisconsin
In Lancaster, 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 Lancaster, 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 Lancaster 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 53813, with a median tax bill of $1,946.
Average Lancaster Assessed Value
$153,000
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 Lancaster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53813 | $58,760 | $107,300 | $153,000 | $260,000 | $341,240 |
Source: Ownwell
Property Tax Bills Across Lancaster, Wisconsin
In Lancaster, WI, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. For instance, the median home price in Lancaster is $153,000. The property tax rate in Lancaster is higher than the national median rate of 0.99%, resulting in varying tax bills based on home values. Homeowners in Lancaster can expect tax bills that range significantly. For example, the 25th percentile tax bill is $1,345, while those in the 75th percentile pay around $3,302. At the 90th percentile, tax bills can reach up to $4,392. The highest median tax bill in the area is $1,946, found in the 53813 zip code. These tax bills are influenced by factors such as the assessed value of the property, local tax rates, and applicable exemptions. For homeowners, understanding these factors is crucial, as higher property taxes can impact overall affordability and long-term financial planning.
Average Lancaster Tax Bill
$1,946
Average Grant County Tax Bill
$2,159
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lancaster, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53813 | $770 | $1,345 | $1,946 | $3,302 | $4,392 |
Source: Ownwell