Coloma, Wisconsin Property Taxes
The median property tax rate in Coloma, WI is 1.12%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $122,400 in Coloma, the typical annual property tax bill amounts to $1,568, falling below the national median of $2,690. Property taxes in Coloma are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Coloma'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 Coloma or another part of Adams County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coloma, 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 Coloma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coloma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coloma 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 Coloma, Wisconsin
Property taxes in Coloma, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coloma is 1.12%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Coloma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coloma 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 Coloma's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54930 has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these cities compare with Coloma provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coloma Tax Rate
1.12%
Average Adams County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | 1.05% | 1.08% | 1.12% | 1.12% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Coloma, Wisconsin
In Coloma, 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 local 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 Coloma, 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 Coloma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Coloma, the zip code with the highest median tax bill is 54930, valued at $1,568.
Average Coloma Assessed Value
$122,400
Average Adams County Assessed Value
$106,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $70,800 | $107,700 | $122,400 | $163,300 | $167,320 |
Source: Ownwell
Property Tax Bills Across Coloma, Wisconsin
In Coloma, 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 local assessor's office and represents an estimate of the property’s market value. Factors such as the size of the property, location, and any improvements made can influence this valuation. Homeowners in Coloma can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,168, while the 75th percentile reaches $1,739. At the 90th percentile, the tax bill can go up to $1,792. These figures highlight the range in property tax burdens within the area, influenced by differences in property values and local tax rates. Comparatively, the median property tax rate in Coloma is higher than the national median of 0.99%, affecting homeowners by potentially increasing their annual expenses. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Coloma Tax Bill
$1,568
Average Adams County Tax Bill
$1,401
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $778 | $1,168 | $1,568 | $1,739 | $1,792 |
Source: Ownwell