Oakfield, Wisconsin Property Taxes
The median property tax rate in Oakfield, WI is 0.13%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Oakfield at $223,200, the typical annual property tax bill is $256, well below the national median of $2,690. Property taxes in Oakfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oakfield'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 Oakfield 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
Oakfield, 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 Oakfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakfield 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 Dodge County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oakfield, Wisconsin
Property taxes in Oakfield, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakfield is 1.53%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Oakfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakfield 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 Oakfield's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest median property tax rate in Dodge County is 1.53%, while the lowest median tax rate in the region is 1.53%. Understanding how these cities compare with Oakfield 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 Oakfield Tax Rate
0.13%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53065 | 0.12% | 0.13% | 0.13% | 0.14% | 0.14% |
Source: Ownwell
Property Tax Assessment Values Across Oakfield, Wisconsin
In Oakfield, 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 Assessor 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. 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 Oakfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Oakfield is $256 in the 53065 zip code, while the lowest is also $256 in the same zip code, highlighting a uniformity in tax assessments across the area.
Average Oakfield Assessed Value
$223,200
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 Oakfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53065 | $22,420 | $120,550 | $223,200 | $243,100 | $252,200 |
Source: Ownwell
Property Tax Bills Across Oakfield, Wisconsin
In Oakfield, located in Dodge County, WI, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value, determined by local assessors, reflects the market value of your property. This value is then multiplied by the tax rate set by local taxing authorities, which funds essential services like schools, infrastructure, and public safety. Homeowners in Oakfield see a range of property tax bills. For example, the 25th percentile tax bill is $147, while the 75th percentile tax bill reaches $324. Even at the 90th percentile, the tax bill is $341, indicating a relatively narrow range. This is particularly notable when compared to the national median property tax rate of 0.99%. The median home price in Oakfield stands at $223,200, which influences the overall tax burden. Homeowners must budget for these annual expenses, which can impact financial planning and the affordability of homeownership. These taxes are crucial for maintaining community services but can vary significantly within the region.
Average Oakfield Tax Bill
$256
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53065 | $31 | $147 | $256 | $324 | $341 |
Source: Ownwell