Platteville, Wisconsin Property Taxes
The median property tax rate in Platteville, WI is 1.65%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Platteville, the typical annual property tax bill reaches $243, exceeding the national median of $2,690. Property taxes in Platteville 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 Platteville'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 Platteville 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
Platteville, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$253
$235
Ownwell’s Platteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Platteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Platteville 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 Platteville, Wisconsin
Property taxes in Platteville, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Platteville is 1.65%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Platteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Platteville 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 Platteville's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53818 zip code has the highest median property tax rate of 1.65%, while the same zip code also has the lowest median tax rate of 1.65%. Understanding how these cities compare with Platteville 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 Platteville Tax Rate
1.65%
Average Lafayette County Tax Rate
1.84%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | 1.52% | 1.60% | 1.65% | 1.67% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Platteville, Wisconsin
In Platteville, 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 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 Platteville, 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 Platteville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 53818, with a median bill of $243.00, which is also the lowest median tax bill in the area.
Average Platteville Assessed Value
$15,328
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 Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | $3,439 | $11,238 | $15,328 | $45,778 | $147,349 |
Source: Ownwell
Property Tax Bills Across Platteville, Wisconsin
In Platteville, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors who evaluate property characteristics and market conditions. The assessed value is then multiplied by the local tax rate, which is set by various taxing authorities, including the county, city, and school districts. For homeowners in Platteville, located in Lafayette County, the tax rate can significantly impact their annual tax bills. Homeowners in Platteville experience a range of property tax bills. The 25th percentile tax bill is $169, while the 75th percentile reaches $751, and the 90th percentile can be as high as $2,358. The median tax bill in the area is $243, which is considerably lower than the national median property tax rate of 0.99%. These tax bills play a crucial role in funding local services, such as public schools, infrastructure, and emergency services, directly affecting the quality of life for residents. Understanding how these factors interplay helps homeowners anticipate their annual financial obligations and better manage their household budgets.
Average Platteville Tax Bill
$243
Average Lafayette County Tax Bill
$291
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Platteville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53818 | $57 | $169 | $243 | $751 | $2,358 |
Source: Ownwell