Platteville, Wisconsin Property Taxes
The median property tax rate in Platteville, WI is 1.70%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Platteville at $170,000, the typical annual property tax bill reaches $2,773, closely aligning with the national median of $2,690. Property taxes in Platteville 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 Platteville'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 Platteville 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
Platteville, 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 Platteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Platteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Platteville 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 Platteville, Wisconsin
Property taxes in Platteville, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Platteville is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Platteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Platteville 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 Platteville's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53818 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Platteville 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 Platteville Tax Rate
1.70%
Average Grant County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | 1.23% | 1.63% | 1.70% | 1.72% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Platteville, Wisconsin
In Platteville, 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 Platteville, 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 Platteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $170,000, with tax bills ranging from $1,997 at the 25th percentile to $4,942 at the 90th percentile. The zip code 53818 has both the highest and lowest median tax bill at $2,773.
Average Platteville Assessed Value
$170,000
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 Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | $92,900 | $119,975 | $170,000 | $247,700 | $323,410 |
Source: Ownwell
Property Tax Bills Across Platteville, Wisconsin
In Platteville, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. For homeowners, understanding how these bills are determined is crucial. The assessed value is an estimate of the property's market value, which is then multiplied by the local tax rate to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. The median home price in Platteville is $170,000, and the property tax rate in Grant County is reflective of this valuation. Homeowners in the 25th percentile can expect a tax bill around $1,997, while those in the 75th percentile may see bills closer to $4,004. For those at the 90th percentile, tax bills can reach up to $4,942. These figures highlight the significant impact property taxes can have on household budgets, emphasizing the importance of accurate assessments and potential appeals to ensure fair taxation.
Average Platteville Tax Bill
$2,773
Average Grant County Tax Bill
$2,159
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | $1,540 | $1,997 | $2,773 | $4,004 | $4,942 |
Source: Ownwell