Amherst, Wisconsin Property Taxes
The median property tax rate in Amherst, WI is 1.53%, which is considerably higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With a median home value of $201,500 in Amherst, the typical annual property tax bill reaches $2,973, surpassing the national median of $2,690. Property taxes in Amherst are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Amherst'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 Amherst or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amherst, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$3,083
Ownwell’s Amherst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst 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 Amherst, Wisconsin
Property taxes in Amherst, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 1.53%, significantly higher than the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst 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 Amherst's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54406 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Amherst provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
1.53%
Average Portage County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54406 | 1.20% | 1.47% | 1.53% | 1.60% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Wisconsin
In Amherst, 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 Portage 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 Amherst, 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 Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Amherst are both $2,973, found in the 54406 zip code.
Average Amherst Assessed Value
$201,500
Average Portage County Assessed Value
$182,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54406 | $41,040 | $128,950 | $201,500 | $275,700 | $366,640 |
Source: Ownwell
Property Tax Bills Across Amherst, Wisconsin
In Amherst, Portage County, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Several factors influence this value, including the property's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the tax bill. For example, with a median home price of $201,500, homeowners in Amherst can expect varying tax bills. The 25th percentile tax bill is $1,931, while the 75th percentile tax bill rises to $4,190. At the 90th percentile, homeowners might see tax bills as high as $5,559. These amounts can significantly impact homeowners' finances, making it crucial to understand and potentially appeal their property assessments. Compared to the national median property tax rate of 0.99%, Amherst's tax rates can result in substantial annual costs, emphasizing the importance of accurate property assessments and potential exemptions.
Average Amherst Tax Bill
$2,973
Average Portage County Tax Bill
$2,873
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54406 | $586 | $1,931 | $2,973 | $4,190 | $5,559 |
Source: Ownwell