Iron Ridge, Wisconsin Property Taxes
The median property tax rate in Iron Ridge, WI is 0.12%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Iron Ridge at $225,400, the typical annual property tax bill amounts to $293, which is substantially below the national median of $2,690. Property taxes in Iron Ridge are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Iron Ridge'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 Iron Ridge or another part of Dodge County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iron Ridge, 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 Iron Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Iron Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Iron Ridge 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 Iron Ridge, Wisconsin
Property taxes in Iron Ridge, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iron Ridge is 1.52%, higher than both the Dodge County median of 1.45% and the U.S. national median of 0.99%. Local government entities within Iron Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iron Ridge 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 Iron Ridge's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53027 zip code has the highest median property tax rate of 1.60%, while the 53050 zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Iron Ridge provides valuable insights into the varying tax landscape across Dodge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Iron Ridge Tax Rate
0.12%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iron Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53035 | 0.11% | 0.11% | 0.12% | 0.14% | 0.15% |
Source: Ownwell
Property Tax Assessment Values Across Iron Ridge, Wisconsin
In Iron Ridge, 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 Dodge 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 Iron Ridge, 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. The median home price in Iron Ridge is $225,400, with annual property tax bills ranging from $231 at the 25th percentile to $465 at the 90th percentile. The highest and lowest median tax bills are both $293, found in zip code 53035. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Iron Ridge Assessed Value
$225,400
Average Dodge County Assessed Value
$188,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iron Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53035 | $121,000 | $175,075 | $225,400 | $294,725 | $392,120 |
Source: Ownwell
Property Tax Bills Across Iron Ridge, Wisconsin
In Iron Ridge, Dodge 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's office and reflects the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Iron Ridge experience a range of tax bills, with the 25th percentile paying around $231, while those in the 75th percentile pay approximately $363. The top 10% of homeowners face tax bills as high as $465. The median home price in Iron Ridge stands at $225,400, and the highest median tax bill recorded in the area is $293, matching the lowest median tax bill, indicating a uniform tax rate across the region. Compared to the national median property tax rate of 0.99%, Iron Ridge homeowners benefit from relatively modest tax bills. These taxes fund essential local services, such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community.
Average Iron Ridge Tax Bill
$293
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Iron Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53035 | $138 | $231 | $293 | $363 | $465 |
Source: Ownwell