Waunakee, Wisconsin Property Taxes
The median property tax rate in Waunakee, WI is 1.78%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Waunakee at $385,700, the typical annual property tax bill reaches $6,776, exceeding the national median of $2,690. Property taxes in Waunakee 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 Waunakee'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 Waunakee 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
Waunakee, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Waunakee Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waunakee with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waunakee 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 Waunakee, Wisconsin
Property taxes in Waunakee, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waunakee is 1.78%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Waunakee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waunakee 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 Waunakee's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53597 zip code has the highest median property tax rate of 1.78%, while the same zip code has the lowest median tax rate of 1.78%. Understanding how these cities compare with Waunakee 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 Waunakee Tax Rate
1.78%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waunakee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | 1.55% | 1.65% | 1.78% | 1.82% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Waunakee, Wisconsin
In Waunakee, 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 Waunakee, 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 Waunakee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Waunakee, both at $6776, are found in zip code 53597.
Average Waunakee Assessed Value
$385,700
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 Waunakee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | $207,820 | $288,700 | $385,700 | $509,700 | $649,420 |
Source: Ownwell
Property Tax Bills Across Waunakee, Wisconsin
In Waunakee, located in Dane County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Homeowners in Waunakee face a median property tax bill of $6,776, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, a home valued at the median price of $385,700 would have its tax bill calculated based on this assessed value. The impact on homeowners can be substantial, with tax bills ranging from $4,999 at the 25th percentile to $11,728 at the 90th percentile. These property taxes fund essential public services such as schools, emergency services, and infrastructure, making them a crucial component of the community's well-being.
Average Waunakee Tax Bill
$6,776
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Waunakee, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | $3,765 | $4,999 | $6,776 | $9,172 | $11,728 |
Source: Ownwell