Markesan, Wisconsin Property Taxes
The median property tax rate in Markesan, WI is 0.12%, considerably lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Markesan at $231,300, the typical annual property tax bill is $274, significantly below the national median of $2,690. Property taxes in Markesan are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Markesan'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 Markesan 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
Markesan, 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 Markesan Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Markesan with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Markesan to project your property tax bill. This valuable tool provides clarity on potential tax obligations. For those interested in more granular trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for tax purposes, considering any applicable exemptions.
Property Tax Rates Across Markesan, Wisconsin
Property taxes in Markesan, WI, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Markesan is 1.89%, significantly higher than the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Markesan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Markesan 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 Markesan's effective property tax rate to other counties in Wisconsin and the national median. For comparison, 54982 has the highest median property tax rate of 2.58%, while 53946 has the lowest median tax rate of 1.2%. Understanding how these cities compare with Markesan provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Markesan Tax Rate
0.12%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | 0.11% | 0.11% | 0.12% | 0.12% | 0.13% |
Source: Ownwell
Property Tax Assessment Values Across Markesan, Wisconsin
In Markesan, 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 Dodge County Assessor 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 Markesan, 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 Markesan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dodge County is $231,300, with the highest and lowest median tax bills in the 53946 zip code, both at $274.
Average Markesan Assessed Value
$231,300
Average Dodge County Assessed Value
$188,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $40,680 | $133,700 | $231,300 | $282,700 | $302,560 |
Source: Ownwell
Property Tax Bills Across Markesan, Wisconsin
Property tax bills in Markesan, located in Dodge County, WI, are calculated based on the assessed value of a property. The local assessor determines this value, which is then used to calculate the tax bill. The property tax rate in Markesan is applied to the assessed value to determine the annual tax amount. Several factors influence this assessed value, including the property's market value, location, and any improvements made to the property. For homeowners in Markesan, understanding the property tax bill is crucial. The median home price in the area is $231,300, and tax bills can vary significantly. For example, the tax bill at the 25th percentile is $143, while at the 75th percentile, it is $341. At the 90th percentile, homeowners might pay around $375. These variations can impact household budgets, making it essential for homeowners to stay informed about their property's assessed value and any potential exemptions they may qualify for.
Average Markesan Tax Bill
$274
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $46 | $143 | $274 | $341 | $375 |
Source: Ownwell