Rio, Wisconsin Property Taxes
The median property tax rate in Rio, WI is 1.34%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Rio at $187,611, the typical annual property tax bill reaches $2,793, slightly above the national median of $2,690. Property taxes in Rio are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Rio'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 Rio 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
Rio, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$2,514
$2,333
Ownwell’s RIO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RIO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RIO 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 Rio, Wisconsin
Property taxes in Rio, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rio is 1.34%, which is higher than the U.S. national median of 0.99%. Local government entities within Rio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rio 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. For comparison, the zip code 53960 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Rio provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rio Tax Rate
1.34%
Average Columbia County Tax Rate
1.43%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rio, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53960 | 1.21% | 1.31% | 1.34% | 1.56% | 1.81% |
Source: Ownwell
Property Tax Assessment Values Across Rio, Wisconsin
In Rio, 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 Columbia 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 Rio, 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 Rio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $2,793 in the 53960 zip code.
Average Rio Assessed Value
$187,611
Average Columbia County Assessed Value
$201,380
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rio, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53960 | $61,621 | $144,084 | $187,611 | $269,571 | $516,037 |
Source: Ownwell
Property Tax Bills Across Rio, Wisconsin
In Rio, located in Columbia 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 local assessor, who evaluates the property's market value. This assessed value is then multiplied by the tax rate to determine the total tax bill. For example, with a median home price of $187,611, homeowners can expect varying tax bills depending on their property's specific assessment and the applicable tax rate. The tax bill at the 25th percentile is $2,422, while at the 75th percentile, it rises to $3,644. At the 90th percentile, the tax bill can go up to $7,710, indicating a significant range based on property values and assessments. These taxes fund essential public services like schools, roads, and emergency services, impacting homeowners by contributing to the overall quality of life in the community. Compared to the national median property tax rate of 0.99%, Rio's tax bills reflect the local economic environment and public service needs.
Average Rio Tax Bill
$2,793
Average Columbia County Tax Bill
$2,882
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Rio, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53960 | $1,320 | $2,422 | $2,793 | $3,644 | $7,710 |
Source: Ownwell