Mount Horeb, Wisconsin Property Taxes
The median property tax rate in Mount Horeb, WI is 1.01%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Mount Horeb at $545,532, the typical annual property tax bill reaches $5,438, significantly exceeding the national median of $2,690. Property taxes in Mount Horeb are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Mount Horeb'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 Mount Horeb 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
Mount Horeb, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$5,510
$5,113
Ownwell’s Mount Horeb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Horeb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Horeb 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 Mount Horeb, Wisconsin
Property taxes in Mount Horeb, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Horeb is 1.41%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Mount Horeb set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Horeb 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 Mount Horeb's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53572 zip code has the highest median property tax rate of 1.41%, while the 53572 zip code has the lowest median tax rate of 1.41%. Understanding how these cities compare with Mount Horeb 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 Mount Horeb Tax Rate
1.01%
Average Green County Tax Rate
1.78%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | 0.96% | 0.99% | 1.01% | 1.01% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Mount Horeb, Wisconsin
In Mount Horeb, 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 Green 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 Mount Horeb, 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 Mount Horeb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Horeb is $545,532. The highest and lowest median tax bills are both $5,438, found in the zip code 53572. The 25th percentile tax bill is $4,075, while the 75th percentile tax bill is $6,097, and the 90th percentile tax bill is $6,335.
Average Mount Horeb Assessed Value
$545,532
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 Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | $293,250 | $412,690 | $545,532 | $602,597 | $626,332 |
Source: Ownwell
Property Tax Bills Across Mount Horeb, Wisconsin
In Mount Horeb, located in Green 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 local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Mount Horeb, the median home price is $545,532, with tax bills ranging widely. At the 25th percentile, tax bills are approximately $4,075, while at the 75th percentile, they rise to about $6,097. The 90th percentile sees tax bills around $6,335. These figures indicate that property taxes can vary significantly depending on the home's assessed value. With the national median property tax rate at 0.99%, Mount Horeb homeowners face tax bills that can be substantial, affecting their overall housing costs. Understanding these factors can help homeowners plan for their annual expenses and manage their financial commitments effectively.
Average Mount Horeb Tax Bill
$5,438
Average Green County Tax Bill
$3,636
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Horeb, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53572 | $2,900 | $4,075 | $5,438 | $6,097 | $6,335 |
Source: Ownwell