Benton, Wisconsin Property Taxes
The median property tax rate in Benton, WI is 1.77%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Benton, the typical annual property tax bill reaches $283, exceeding the national median of $2,690. Property taxes in Benton 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 Benton'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 Benton 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
Benton, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.77%
Estimate Property Tax Bill
$272
Ownwell’s Benton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Benton using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benton to provide an estimated property tax bill. This valuable tool offers clear insights into potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Benton, Wisconsin
Property taxes in Benton, Wisconsin, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Benton is 1.77%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Benton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Benton estimates its required budget to maintain services for the upcoming fiscal year and 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 Benton's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53803 has both the highest and lowest median property tax rate of 1.77%. Understanding how these cities compare with Benton provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benton Tax Rate
1.77%
Average Lafayette County Tax Rate
1.84%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53803 | 1.54% | 1.59% | 1.77% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Benton, Wisconsin
In Benton, 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 Lafayette 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 Benton, 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. Benton's property taxes can vary significantly, with the highest median tax bill being $283 in the 53803 zip code. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Benton Assessed Value
$15,343
Average Lafayette County Assessed Value
$15,150
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53803 | $2,962 | $5,786 | $15,343 | $44,248 | $98,820 |
Source: Ownwell
Property Tax Bills Across Benton, Wisconsin
In Benton, Lafayette County, WI, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the property tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements or renovations made. The median home price in Benton is $15,343, with tax bills ranging from $103 at the 25th percentile to $1,751 at the 90th percentile. The highest median tax bill in the area is $283, observed in the 53803 zip code. Compared to the national median property tax rate of 0.99%, Benton's rates can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Benton Tax Bill
$283
Average Lafayette County Tax Bill
$291
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53803 | $47 | $103 | $283 | $689 | $1,751 |
Source: Ownwell