Readstown, Wisconsin Property Taxes
The median property tax rate in Readstown, WI is 1.37%, considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Readstown, the typical annual property tax bill reaches $1,442, which is below the national median of $2,690. Property taxes in Readstown 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 Readstown'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 Readstown 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
Readstown, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,427
Ownwell’s Readstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Readstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Readstown 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 Readstown, Wisconsin
Property taxes in Readstown, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Readstown is 1.37%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Readstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Readstown 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 Readstown's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54652 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Readstown provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Readstown Tax Rate
1.37%
Average Vernon County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Readstown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54652 | 1.08% | 1.27% | 1.37% | 1.47% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Readstown, Wisconsin
In Readstown, 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 Vernon 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 Readstown, 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 Readstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 54652, with a median tax bill of $1,442.
Average Readstown Assessed Value
$104,150
Average Vernon County Assessed Value
$157,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Readstown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54652 | $24,750 | $57,475 | $104,150 | $185,625 | $277,050 |
Source: Ownwell
Property Tax Bills Across Readstown, Wisconsin
In Readstown, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in the area is $104,150, which serves as a key factor in determining the tax bill. The assessed value is multiplied by the local tax rate to arrive at the annual property tax bill. For instance, homeowners in Readstown can expect a tax bill ranging from $767 at the 25th percentile to $3,747 at the 90th percentile. The median property tax rate in Vernon County is 1.38%, which is higher than the national median of 0.99%. This higher tax rate can significantly impact homeowners, especially those with higher-valued properties. The highest median tax bill in the area is $1,442, corresponding to zip code 54652. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly. The variability in tax bills underscores the importance of accurate property assessments and awareness of local tax rates.
Average Readstown Tax Bill
$1,442
Average Vernon County Tax Bill
$2,337
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Readstown, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54652 | $314 | $767 | $1,442 | $2,518 | $3,747 |
Source: Ownwell