Waterloo, Wisconsin Property Taxes
The median property tax rate in Waterloo, WI is 1.38%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Waterloo, the typical annual property tax bill reaches $3,917, exceeding the national median of $2,690. Property taxes in Waterloo 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 Waterloo'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 Waterloo 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
Waterloo, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$3,545
$3,290
Ownwell’s Waterloo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterloo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterloo 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 Waterloo, Wisconsin
Property taxes in Waterloo, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterloo is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Waterloo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterloo 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 Waterloo's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53594 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Waterloo 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 Waterloo Tax Rate
1.38%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterloo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53594 | 1.29% | 1.33% | 1.38% | 1.74% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Waterloo, Wisconsin
In Waterloo, 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 Waterloo, 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 Waterloo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53594 has the highest and lowest median tax bill, both at $3,917.
Average Waterloo Assessed Value
$256,900
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 Waterloo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53594 | $155,580 | $198,750 | $256,900 | $355,300 | $415,060 |
Source: Ownwell
Property Tax Bills Across Waterloo, Wisconsin
In Waterloo, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in Waterloo, located in Dane County, experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $2,808, while the 75th percentile reaches $5,216, and the 90th percentile can go up to $6,943. These tax bills are higher than the national median property tax rate of 0.99%, reflecting the relatively high property values in the area. The median home price in Waterloo is $256,900, which contributes to the higher tax bills. For homeowners, this means that property taxes represent a significant annual expense, impacting their overall cost of living. However, these taxes also fund essential local services such as schools, public safety, and infrastructure, contributing to the community's quality of life.
Average Waterloo Tax Bill
$3,917
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterloo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53594 | $2,434 | $2,808 | $3,917 | $5,216 | $6,943 |
Source: Ownwell