Black Earth, Wisconsin Property Taxes
The median property tax rate in Black Earth, WI is 1.84%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Black Earth, the typical annual property tax bill reaches $4,472, exceeding the national median of $2,690. Property taxes in Black Earth 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 Black Earth'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 Black Earth 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
Black Earth, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$4,383
$4,067
Ownwell’s BLACK EARTH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLACK EARTH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLACK EARTH 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 Black Earth, Wisconsin
Property taxes in Black Earth, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Black Earth is 1.84%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Black Earth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Black Earth 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 Black Earth's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53515 zip code has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Black Earth provides valuable insights into the varying tax landscape across Dane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Black Earth Tax Rate
1.84%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Black Earth, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53515 | 1.57% | 1.70% | 1.84% | 1.93% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Black Earth, Wisconsin
In Black Earth, 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 Dane 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 Black Earth, 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 Black Earth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53515 has the highest and lowest median tax bill, both at $4472, compared to the national median property tax rate of 0.99%.
Average Black Earth Assessed Value
$238,200
Average Dane County Assessed Value
$304,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Black Earth, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53515 | $99,270 | $180,250 | $238,200 | $333,550 | $441,190 |
Source: Ownwell
Property Tax Bills Across Black Earth, Wisconsin
Property tax bills in Black Earth, located in Dane County, WI, are calculated based on the assessed value of a property and the local tax rate. The median home price in Black Earth is $238,200, and homeowners can expect their tax bills to vary significantly. Factors such as the property's assessed value, local tax rates, and any applicable exemptions or deductions play a crucial role in determining the final tax bill. For instance, the 25th percentile tax bill stands at $3,373, while the 75th percentile tax bill reaches $6,180, and the 90th percentile tax bill soars to $7,935. These figures illustrate the variability in property tax bills within the region. Compared to the national median property tax rate of 0.99%, Black Earth's tax rates can result in higher financial obligations for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax expenses and plan their finances accordingly.
Average Black Earth Tax Bill
$4,472
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Black Earth, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53515 | $2,047 | $3,373 | $4,472 | $6,180 | $7,935 |
Source: Ownwell