Mount Horeb, Wisconsin Property Taxes
The median property tax rate in Mount Horeb, WI is 1.64%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mount Horeb at $291,100, the typical annual property tax bill reaches $4,755, exceeding the national median of $2,690. Property taxes in Mount Horeb 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 Mount Horeb'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 Mount Horeb 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
Mount Horeb, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$4,774
Ownwell’s Mount Horeb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Horeb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Horeb 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 Mount Horeb, Wisconsin
Property taxes in Mount Horeb, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Horeb is 1.64%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mount Horeb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Horeb 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 Mount Horeb's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53572 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Mount Horeb provides valuable insights into the varying tax landscape across Dane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Horeb Tax Rate
1.64%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | 1.41% | 1.61% | 1.64% | 1.67% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Mount Horeb, Wisconsin
Understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes in Mount Horeb, Wisconsin. The market value represents 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. Assessment notices in Mount Horeb 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 Mount Horeb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Mount Horeb is 53572, with a median tax bill of $4,755.
Average Mount Horeb Assessed Value
$291,100
Average Dane County Assessed Value
$304,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | $146,980 | $231,100 | $291,100 | $369,450 | $447,100 |
Source: Ownwell
Property Tax Bills Across Mount Horeb, Wisconsin
In Mount Horeb, located in Dane County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office, which evaluates various factors such as the property's size, location, and condition. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Mount Horeb is $291,100, which influences the overall tax burden on homeowners. Property taxes in Mount Horeb can vary significantly. For instance, tax bills at the 25th percentile are around $3,737, while those at the 75th percentile reach approximately $6,020. At the higher end, the 90th percentile tax bill can be as much as $7,372. These figures indicate a range of property tax burdens depending on the value of the home. With the highest and lowest median tax bills both at $4,755, homeowners in Mount Horeb generally face a tax rate higher than the national median property tax rate of 0.99%, impacting their overall financial planning.
Average Mount Horeb Tax Bill
$4,755
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | $2,299 | $3,737 | $4,755 | $6,020 | $7,372 |
Source: Ownwell