Hobart, Wisconsin Property Taxes
The median property tax rate in Hobart, WI is 1.31%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Hobart, the typical annual property tax bill reaches $7,033, significantly exceeding the national median of $2,690. Property taxes in Hobart 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 Hobart'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 Hobart 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
Hobart, 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 Hobart Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hobart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobart 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 Hobart, Wisconsin
Property taxes in Hobart, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobart is 1.31%, which is higher than the U.S. national median of 0.99%. Local government entities within Hobart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobart 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 Hobart's effective property tax rate to other areas in Brown County and the national median. For comparison, the 54155 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Hobart provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobart Tax Rate
1.31%
Average Brown County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobart, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54155 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Hobart, Wisconsin
In Hobart, 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 Brown 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 Hobart, 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 Hobart helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the zip code 54155 consistently shows both the highest and lowest median tax bills, each amounting to $7,033.
Average Hobart Assessed Value
$534,900
Average Brown County Assessed Value
$232,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobart, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54155 | $534,900 | $534,900 | $534,900 | $534,900 | $534,900 |
Source: Ownwell
Property Tax Bills Across Hobart, Wisconsin
In Hobart, WI, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local assessors who evaluate the property's market value. The tax rate, which is applied to the assessed value, is set by local taxing authorities and reflects the funding needs for public services such as schools, infrastructure, and emergency services. For homeowners in Hobart, the median home price is $534,900, and the property tax bill is consistent across various percentiles, with a notable figure of $7,033. This tax bill is significantly higher than the national median property tax rate of 0.99%, indicating a higher cost for homeowners in this region. Factors such as local government budgets and community service requirements contribute to these rates, directly impacting the financial obligations of homeowners. Understanding these elements can help residents plan better for their annual property tax expenses, ensuring they are prepared for the financial responsibilities of homeownership in Hobart.
Average Hobart Tax Bill
$7,033
Average Brown County Tax Bill
$3,396
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobart, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54155 | $7,033 | $7,033 | $7,033 | $7,033 | $7,033 |
Source: Ownwell