Woodford, Wisconsin Property Taxes
The median property tax rate in Woodford, WI is 1.50%, which is considerably higher than the national median of 0.99% but slightly lower than Wisconsin's state median of 1.58%. With a median home value of $72,133, the typical annual property tax bill in Woodford reaches $1,069, which is lower than the national median of $2,690. Property taxes in Woodford are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Woodford'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 Woodford 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
Woodford, 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 WOODFORD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WOODFORD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WOODFORD 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 Woodford, Wisconsin
Property taxes in Woodford, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodford is 1.50%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Woodford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodford 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 Woodford's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53599 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these areas compare with Woodford provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Woodford Tax Rate
1.50%
Average Lafayette County Tax Rate
1.84%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53599 | 1.48% | 1.49% | 1.50% | 1.51% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Woodford, Wisconsin
In Woodford, 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 Lafayette 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 Woodford, 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 Woodford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53599 has the highest and lowest median tax bill, both at $1069.
Average Woodford Assessed Value
$72,133
Average Lafayette County Assessed Value
$15,150
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53599 | $21,947 | $40,767 | $72,133 | $103,499 | $122,319 |
Source: Ownwell
Property Tax Bills Across Woodford, Wisconsin
In Woodford, located in Lafayette County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Woodford see a range of property tax bills, with the 25th percentile at $606 and the 75th percentile at $1,532. This variation is influenced by factors such as property size, location, and any improvements made to the home. The median home price in Woodford is $72,133. Compared to the national median property tax rate of 0.99%, Woodford's tax rates can be relatively favorable for homeowners. However, the highest median tax bill in the area is $1,069, indicating that some homeowners may face higher tax burdens depending on their property's assessed value. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances effectively. By staying informed, residents can better navigate the complexities of property taxes and ensure they are prepared for any changes in their tax bills.
Average Woodford Tax Bill
$1,069
Average Lafayette County Tax Bill
$291
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodford, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53599 | $328 | $606 | $1,069 | $1,532 | $1,810 |
Source: Ownwell