Mount Hope, Wisconsin Property Taxes
The median property tax rate in Mount Hope, WI is 1.22%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $80,100 in Mount Hope, the typical annual property tax bill amounts to $946, falling short of the national median of $2,690. Property taxes in Mount Hope are determined based on the tax assessed value, which is generally lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Mount Hope's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Mount Hope or elsewhere in the city, gaining insight into the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Hope, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$977
Ownwell’s MOUNT HOPE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT HOPE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT HOPE 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 Hope, Wisconsin
Property taxes in Mount Hope, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Hope is 1.22%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mount Hope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Hope 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 Hope's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53816 zip code has the highest median property tax rate of 1.22%, while the 53816 zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Mount Hope provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Hope Tax Rate
1.22%
Average Grant County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Hope, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53816 | 1.03% | 1.12% | 1.22% | 1.49% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Mount Hope, Wisconsin
In Mount Hope, 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 Grant 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 Mount Hope, 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 example, the median home price in Mount Hope is $80,100, with tax bills ranging from $475 at the 25th percentile to $3,124 at the 90th percentile. The highest and lowest median tax bills are both $946 in the 53816 zip code. By understanding 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 Mount Hope Assessed Value
$80,100
Average Grant County Assessed Value
$141,950
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Hope, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53816 | $24,760 | $40,100 | $80,100 | $158,100 | $219,000 |
Source: Ownwell
Property Tax Bills Across Mount Hope, Wisconsin
In Mount Hope, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Mount Hope can expect a range of tax bills, with the 25th percentile at $475 and the 75th percentile at $1,973. For those in the 90th percentile, the tax bill can reach up to $3,124. The median home price in Mount Hope is $80,100, and the median property tax bill in the area is $946, which is slightly below the national median property tax rate of 0.99%. This means that while some homeowners may find their tax bills manageable, others, particularly those with higher property values, might face more substantial financial obligations. Understanding these factors can help homeowners better anticipate their annual property tax expenses and plan accordingly.
Average Mount Hope Tax Bill
$946
Average Grant County Tax Bill
$2,159
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Hope, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53816 | $292 | $475 | $946 | $1,973 | $3,124 |
Source: Ownwell