Alma, Wisconsin Property Taxes
The median property tax rate in Alma, WI is 1.69%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Alma at $121,650, the typical annual property tax bill reaches $1,996, exceeding the national median of $2,690. Property taxes in Alma 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 Alma'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 Alma or another part of Buffalo County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alma, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$2,056
$1,908
Ownwell’s Alma Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alma with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Alma to provide an estimated property tax bill. This invaluable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Alma, Wisconsin
Property taxes in Alma, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alma is 1.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Alma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alma 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 Alma's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54610 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Alma provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alma Tax Rate
1.69%
Average Buffalo County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54610 | 1.23% | 1.41% | 1.69% | 1.88% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Alma, Wisconsin
In Alma, 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 Buffalo County Assessor 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 Alma, 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 Alma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54610 has the highest and lowest median tax bill of $1,996.
Average Alma Assessed Value
$121,650
Average Buffalo County Assessed Value
$142,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54610 | $45,580 | $84,750 | $121,650 | $174,775 | $238,940 |
Source: Ownwell
Property Tax Bills Across Alma, Wisconsin
In Alma, Buffalo County, WI, 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 county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For homeowners in Alma, the median home price is $121,650. Tax bills in the area vary, with the 25th percentile at $1,291 and the 75th percentile reaching $2,898. The 90th percentile tax bill can go as high as $3,956. The highest and lowest median tax bills in the area are both $1,996, indicating a relatively consistent tax rate within the zip code 54610. Compared to the national median property tax rate of 0.99%, Alma homeowners face a tax environment that can significantly impact their annual expenses.
Average Alma Tax Bill
$1,996
Average Buffalo County Tax Bill
$2,115
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Alma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54610 | $623 | $1,291 | $1,996 | $2,898 | $3,956 |
Source: Ownwell