Albany, Wisconsin Property Taxes
The median property tax rate in Albany, 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 Albany, the typical annual property tax bill reaches $3,441, exceeding the national median of $2,690. Property taxes in Albany 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 Albany'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 Albany 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
Albany, 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 Albany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albany 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 Albany, Wisconsin
Property taxes in Albany, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albany is 1.78%, significantly higher than the U.S. national median of 0.99%. Local government entities within Albany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albany 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 Albany's effective property tax rate to other areas in Green County and the national median. For comparison, the 53502 zip code has the highest median property tax rate of 1.78%, while the same 53502 zip code also has the lowest median tax rate of 1.78%. Understanding how these cities compare with Albany provides valuable insights into the varying tax landscape across Green County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albany Tax Rate
1.78%
Average Green County Tax Rate
1.78%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albany, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53502 | 1.61% | 1.68% | 1.78% | 2.09% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Albany, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Albany, Green County, 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 Albany, 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. For instance, the zip code 53502 has both the highest and lowest median tax bill at $3,441. Being aware of these valuation processes in Albany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Albany Assessed Value
$184,608
Average Green County Assessed Value
$193,272
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albany, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53502 | $76,476 | $111,803 | $184,608 | $269,135 | $334,060 |
Source: Ownwell
Property Tax Bills Across Albany, Wisconsin
In Albany, Green County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Albany is $184,608, and the local property tax rate is compared to the national median of 0.99%. Factors influencing the tax bill include the property's assessed value, which is determined by local assessors, and any applicable exemptions or deductions. For homeowners, the property tax bill can vary significantly. At the 25th percentile, the tax bill is around $2,236, while at the 75th percentile, it rises to approximately $4,713. The 90th percentile sees tax bills as high as $5,726. These variations highlight how different property values and assessment practices can impact individual tax obligations. In Green County, the highest and lowest median tax bills are both $3,441, indicating a relatively consistent tax burden across different areas within the same zip code, 53502. Understanding these factors can help homeowners better anticipate their annual property tax expenses and plan their finances accordingly.
Average Albany Tax Bill
$3,441
Average Green County Tax Bill
$3,636
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Albany, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53502 | $1,427 | $2,236 | $3,441 | $4,713 | $5,726 |
Source: Ownwell