Stoughton, Wisconsin Property Taxes
The median property tax rate in Stoughton, WI is 1.87%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Stoughton, the typical annual property tax bill reaches $4,562, exceeding the national median of $2,690. Property taxes in Stoughton 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 Stoughton’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 Stoughton 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
Stoughton, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$4,920
Ownwell’s Stoughton Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stoughton with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stoughton to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities with ease. For those interested in more granular insights, you can explore trends at a neighborhood level by scrolling down for localized information. Your property’s assessed value is the figure assigned by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Stoughton, Wisconsin
Property taxes in Stoughton, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stoughton is 1.87%, significantly higher than the U.S. national median of 0.99%. Local government entities within Stoughton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stoughton 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 Stoughton's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 53589 zip code has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these areas compare with Stoughton 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 Stoughton Tax Rate
1.87%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stoughton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53589 | 1.25% | 1.44% | 1.87% | 1.91% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Stoughton, Wisconsin
In Stoughton, 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 Stoughton, 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 Stoughton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stoughton is $263,100, with annual tax bills ranging from $3,628 at the 25th percentile to $7,486 at the 90th percentile. Notably, the highest and lowest median tax bills are both found in zip code 53589, with a value of $4,562.
Average Stoughton Assessed Value
$263,100
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 Stoughton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53589 | $153,560 | $208,200 | $263,100 | $343,600 | $470,100 |
Source: Ownwell
Property Tax Bills Across Stoughton, Wisconsin
In Stoughton, located in Dane County, WI, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Stoughton is $263,100. Homeowners in this area can expect their tax bills to vary significantly, depending on the assessed value of their property and the specific tax rate applied by the local authorities. For instance, tax bills at the 25th percentile are around $3,628, while those at the 75th percentile reach up to $5,848. The top 10% of tax bills can be as high as $7,486. These tax bills are influenced by several factors, including the local government's budgetary needs and the overall property market conditions in the area. With a median property tax rate higher than the national median of 0.99%, homeowners in Stoughton may find their property taxes to be a significant annual expense. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Stoughton Tax Bill
$4,562
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Stoughton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53589 | $2,804 | $3,628 | $4,562 | $5,848 | $7,486 |
Source: Ownwell