Cochrane, Wisconsin Property Taxes
The median property tax rate in Cochrane, WI is 1.39%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Cochrane at $143,800, the typical annual property tax bill reaches $2,041, falling below the national median of $2,690. Property taxes in Cochrane 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 Cochrane'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 Cochrane or another part of Buffalo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cochrane, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,999
Ownwell’s Cochrane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cochrane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cochrane 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 Cochrane, Wisconsin
Property taxes in Cochrane, Wisconsin, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cochrane is 1.39%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Cochrane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cochrane 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 Cochrane's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54622 zip code has the highest median property tax rate of 1.39%, while the 54622 zip code also has the lowest median tax rate of 1.39%. Understanding how these areas compare with Cochrane provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cochrane Tax Rate
1.39%
Average Buffalo County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cochrane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | 1.19% | 1.30% | 1.39% | 1.48% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Cochrane, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cochrane, Wisconsin. 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 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 Cochrane, 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 median home price in Cochrane is $143,800, with tax bills ranging from the 25th percentile at $1,421 to the 90th percentile at $4,011. 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 Cochrane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cochrane Assessed Value
$143,800
Average Buffalo County Assessed Value
$142,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cochrane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | $57,200 | $100,500 | $143,800 | $206,000 | $278,260 |
Source: Ownwell
Property Tax Bills Across Cochrane, Wisconsin
Property tax bills in Cochrane, Buffalo County, WI, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. For homeowners in Cochrane, the median home price is $143,800. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, improvements, and market conditions. For instance, tax bills in Cochrane can range significantly, with the 25th percentile at $1,421 and the 75th percentile at $2,898. Those at the 90th percentile may see bills as high as $4,011. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Cochrane should be aware of these factors as they directly affect their annual expenses and overall financial planning.
Average Cochrane Tax Bill
$2,041
Average Buffalo County Tax Bill
$2,115
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Cochrane, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | $739 | $1,421 | $2,041 | $2,898 | $4,011 |
Source: Ownwell