River Hills, Wisconsin Property Taxes
The median property tax rate in River Hills, WI is 3.92%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in River Hills at $380,100, the typical annual property tax bill reaches $14,894, far exceeding the national median of $2,690. Property taxes in River Hills 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 River Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of River Hills 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
River Hills, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.92%
Estimate Property Tax Bill
$14,900
$13,827
Ownwell’s River Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in River Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in River Hills 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 River Hills, Wisconsin
Property taxes in River Hills, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in River Hills is 1.29%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within River Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, River Hills 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 River Hills' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53217 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with River Hills 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 River Hills Tax Rate
3.92%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across River Hills, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | 3.92% | 3.92% | 3.92% | 3.92% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across River Hills, Wisconsin
In River Hills, 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 River Hills, 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 River Hills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53217 has the highest and lowest median tax bills, both valued at $14,894.
Average River Hills Assessed Value
$380,100
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 River Hills, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $380,100 | $380,100 | $380,100 | $380,100 | $380,100 |
Source: Ownwell
Property Tax Bills Across River Hills, Wisconsin
Property tax bills in River Hills, located in Dane County, WI, are calculated based on the assessed value of a property. The local taxing authority determines this assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements or renovations made. In River Hills, the median home price is $380,100, and property tax bills can vary significantly. The tax bill for the 25th, 75th, and 90th percentiles all stand at $14,894, which is notably higher than the national median property tax rate of 0.99%. This substantial tax bill can have a considerable impact on homeowners, affecting their overall housing costs and financial planning. It is crucial for property owners to stay informed about their property's assessed value and understand how local tax rates influence their annual tax obligations.
Average River Hills Tax Bill
$14,894
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across River Hills, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53217 | $14,894 | $14,894 | $14,894 | $14,894 | $14,894 |
Source: Ownwell