Watertown, Wisconsin Property Taxes
The median property tax rate in Watertown, WI is 0.12%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $175,900 in Watertown, the typical annual property tax bill amounts to $334, far below the national median of $2,690. Property taxes in Watertown 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 Watertown'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 Watertown 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
Watertown, 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 Watertown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watertown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watertown 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 Watertown, Wisconsin
Property taxes in Watertown, WI, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watertown is 0.12%, significantly lower than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Watertown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watertown 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 Watertown's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest median property tax rate in the region is significantly higher than Watertown's, while the lowest median tax rate is also higher than Watertown's. Understanding how these cities compare with Watertown 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 Watertown 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 Watertown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53094 | N/A | N/A | N/A | N/A | N/A |
| 53098 | 0.11% | 0.12% | 0.12% | 0.13% | 0.14% |
Source: Ownwell
Property Tax Assessment Values Across Watertown, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Watertown, WI. 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 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 Watertown, 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. The median home price in Watertown is $175,900, with tax bills ranging from $180 at the 25th percentile to $597 at the 90th percentile. The highest and lowest median tax bills are both $334, found in the 53098 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Watertown Assessed Value
$175,900
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 Watertown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53094 | N/A | N/A | N/A | N/A | N/A |
| 53098 | $78,040 | $131,625 | $176,000 | $248,500 | $337,580 |
Source: Ownwell
Property Tax Bills Across Watertown, Wisconsin
In Watertown, Wisconsin, located in Dodge County, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $175,900. Property taxes are determined by multiplying the assessed value by the local tax rate, which is then adjusted by any applicable exemptions or deductions. Several factors influence the tax bill, including the property's assessed value, local government budgets, and specific tax levies for schools, infrastructure, and public services. For instance, homeowners in Watertown might see tax bills ranging from $180 at the 25th percentile to $597 at the 90th percentile, reflecting variations in home values and applicable rates. These property taxes directly impact homeowners by funding essential community services such as education, emergency services, and road maintenance. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets more effectively. Comparing this to the national median property tax rate of 0.99%, Watertown's tax rates offer a perspective on local tax burdens relative to broader trends.
Average Watertown Tax Bill
$334
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Watertown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53094 | N/A | N/A | N/A | N/A | N/A |
| 53098 | $46 | $180 | $334 | $461 | $597 |
Source: Ownwell