Colgate, Wisconsin Property Taxes
The median property tax rate in Colgate, WI is 1.18%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $368,844 in Colgate, the typical annual property tax bill reaches $4,161, significantly exceeding the national median of $2,690. Property taxes in Colgate are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Colgate'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 Colgate or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colgate, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$4,352
Ownwell’s Colgate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colgate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colgate 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 Colgate, Wisconsin
Property taxes in Colgate, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colgate is 1.18%, which is higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Colgate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colgate 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 Colgate's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53017 has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Colgate provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colgate Tax Rate
1.18%
Average Washington County Tax Rate
1.22%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | 0.94% | 0.97% | 1.18% | 1.22% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Colgate, Wisconsin
In Colgate, 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 Washington 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 Colgate, 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 Colgate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Colgate is $368,844, with the highest and lowest median tax bills both at $4,161 in the 53017 zip code. The 25th percentile tax bill is $3,363, while the 75th percentile tax bill is $5,546, and the 90th percentile tax bill is $7,280.
Average Colgate Assessed Value
$368,844
Average Washington County Assessed Value
$284,190
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | $245,480 | $287,480 | $368,844 | $496,792 | $622,414 |
Source: Ownwell
Property Tax Bills Across Colgate, Wisconsin
In Colgate, Washington County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $368,844. To determine the tax bill, the assessed value is multiplied by the tax rate set by local government authorities. This amount can be influenced by various factors, including property size, location, and any improvements made to the property. Homeowners in Colgate can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $3,363, while the 75th percentile tax bill reaches $5,546. At the 90th percentile, homeowners may see tax bills as high as $7,280. The highest median tax bill in the area is $4,161, which is significantly higher than the national median property tax rate of 0.99%. These property tax bills have a direct impact on homeowners, affecting their annual budgeting and long-term financial planning. Understanding these factors can help homeowners anticipate their tax obligations and make informed decisions about their property investments.
Average Colgate Tax Bill
$4,161
Average Washington County Tax Bill
$3,282
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Colgate, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53017 | $2,745 | $3,363 | $4,161 | $5,546 | $7,280 |
Source: Ownwell