Theresa, Wisconsin Property Taxes
The median property tax rate in Theresa, WI is 0.14%, significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Theresa at $198,900, the typical annual property tax bill reaches $278, far below the national median of $2,690. Property taxes in Theresa 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 Theresa'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 Theresa 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
Theresa, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.14%
Estimate Property Tax Bill
$278
Ownwell’s Theresa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Theresa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Theresa 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 Theresa, Wisconsin
Property taxes in Theresa, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Theresa is 0.14%, significantly lower than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Theresa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Theresa 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 Theresa'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 0.99%, while the lowest median tax rate is 0.14%. Understanding how these cities compare with Theresa 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 Theresa Tax Rate
0.14%
Average Dodge County Tax Rate
0.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | 0.13% | 0.14% | 0.14% | 0.15% | 0.16% |
Source: Ownwell
Property Tax Assessment Values Across Theresa, Wisconsin
In Theresa, 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 Theresa, 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 Theresa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $278, found in the zip code 53091. The median home price in Theresa is $198,900, with tax bills ranging from $203 at the 25th percentile to $435 at the 90th percentile.
Average Theresa Assessed Value
$198,900
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 Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $32,400 | $148,600 | $198,900 | $246,500 | $311,800 |
Source: Ownwell
Property Tax Bills Across Theresa, Wisconsin
In Theresa, located in Dodge County, WI, property tax bills are determined by the assessed value of a homeowner's property multiplied by the local tax rate. The assessed value is an estimate of the property's market value, which local assessors calculate based on various factors, including the property's size, location, and condition. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, homeowners in Theresa can expect a median property tax bill of $278, which is significantly lower than the national median property tax rate of 0.99%. This lower tax bill can be attributed to the region's relatively modest median home price of $198,900. However, property tax bills can vary within the city, with the 25th percentile at $203 and the 75th percentile at $346, indicating a range of property values and corresponding tax obligations. Homeowners at the 90th percentile might see bills as high as $435. This variability in tax bills highlights the importance of understanding how different factors influence property assessments and tax rates in Theresa.
Average Theresa Tax Bill
$278
Average Dodge County Tax Bill
$288
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $51 | $203 | $278 | $346 | $435 |
Source: Ownwell