Morrisonville, Wisconsin Property Taxes
The median property tax rate in Morrisonville, WI is 1.93%, significantly higher than both the national median of 0.99% and Wisconsin's state median of 1.58%. With a median home value of $198,200 in Morrisonville, the typical annual property tax bill reaches $3,928, surpassing the national median of $2,690. Property taxes in Morrisonville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Morrisonville'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 Morrisonville or another part of Dane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morrisonville, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$3,825
$3,550
Ownwell’s Morrisonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morrisonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrisonville 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 Morrisonville, Wisconsin
Property taxes in Morrisonville, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrisonville is 1.93%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Morrisonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrisonville 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 Morrisonville's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 53571 zip code has the highest median property tax rate of 1.93%, while the 53532 zip code has the lowest median tax rate of 1.62%. Understanding how these areas compare with Morrisonville 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 Morrisonville Tax Rate
1.93%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrisonville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53532 | 1.62% | 1.62% | 1.62% | 1.62% | 1.62% |
| 53571 | 1.71% | 1.79% | 1.93% | 2.13% | 2.35% |
Source: Ownwell
Property Tax Assessment Values Across Morrisonville, Wisconsin
In Morrisonville, 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 Morrisonville, 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 Morrisonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53571 has the highest median tax bill at $3,935, while 53532 has the lowest at $2,925.
Property Tax Assessment Values Across Morrisonville, Wisconsin
Source: Ownwell
$33,800
$338,500
$643,200
Average Morrisonville Assessed Value
$198,200
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 Morrisonville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53532 | $180,100 | $180,100 | $180,100 | $180,100 | $180,100 |
| 53571 | $138,130 | $162,975 | $198,400 | $231,650 | $278,710 |
Source: Ownwell
Property Tax Bills Across Morrisonville, Wisconsin
In Morrisonville, Dane County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $198,200, and the tax rate is applied to this value to determine the final tax bill. Various factors influence the tax bill, including the property's assessed value, which is determined by the local assessor, and any applicable exemptions or deductions. Homeowners in Morrisonville can expect tax bills that vary significantly. At the 25th percentile, the tax bill is around $3,291, while at the 75th percentile, it climbs to $4,511. For those at the 90th percentile, the tax bill can reach up to $4,977. These figures illustrate the range of property tax burdens residents might face, influenced by the specific assessed value and tax rate applied. Compared to the national median property tax rate of 0.99%, Morrisonville's property taxes can be relatively high, reflecting the importance of accurate assessments and potential exemptions to manage tax liabilities effectively.
Average Morrisonville Tax Bill
$3,928
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrisonville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53532 | $2,925 | $2,925 | $2,925 | $2,925 | $2,925 |
| 53571 | $2,613 | $3,342 | $3,935 | $4,517 | $4,978 |
Source: Ownwell