Westport, Wisconsin Property Taxes
The median property tax rate in Westport, WI is 1.64%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Westport, the typical annual property tax bill reaches $4,370, exceeding the national median of $2,690. Property taxes in Westport 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 Westport'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 Westport 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
Westport, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$4,384
$4,068
Ownwell’s Westport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westport 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 Westport, Wisconsin
Property taxes in Westport, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westport is 1.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Westport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westport 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 Westport's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53597 has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these areas compare with Westport 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 Westport Tax Rate
1.64%
Average Dane County Tax Rate
2.02%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westport, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Westport, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westport, Wisconsin. 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 local 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 Westport, 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. For instance, the median home price in Westport is $267,300, and the median tax bill is $4,370. The zip code 53597 has both the highest and lowest median tax bills, each at $4,370. By understanding 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 Westport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Westport Assessed Value
$267,300
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 Westport, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | $267,300 | $267,300 | $267,300 | $267,300 | $267,300 |
Source: Ownwell
Property Tax Bills Across Westport, Wisconsin
In Westport, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to generate the annual tax bill. For homeowners in Westport, the median home price stands at $267,300. The property tax rate in the area results in a median tax bill of $4,370, which is significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the home's location within Dane County, its assessed value, and any applicable exemptions that may reduce the taxable amount. Higher property taxes can affect homeowners by increasing the overall cost of owning a home, potentially impacting affordability and influencing decisions about buying or selling property. For those living in the 53597 zip code, the consistency in tax bills highlights the uniformity of property assessments and tax rates within the area.
Average Westport Tax Bill
$4,370
Average Dane County Tax Bill
$7,324
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Westport, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53597 | $4,370 | $4,370 | $4,370 | $4,370 | $4,370 |
Source: Ownwell