Caledonia, Racine County, Wisconsin Property Taxes
The median property tax rate in Caledonia, WI is 1.57%, which is considerably higher than the national median of 0.99% but just below the Wisconsin state median of 1.58%. With a median home value of $263,221 in Caledonia, the typical annual property tax bill reaches $3,728, significantly exceeding the national median of $2,690. Property taxes in Caledonia 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 Caledonia'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 Caledonia or another part of Racine County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caledonia, Racine County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$4,133
$3,835
Ownwell’s Caledonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caledonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caledonia 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 Caledonia, Racine County, Wisconsin
Property taxes in Caledonia, Wisconsin, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 1.57%, which is higher than the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caledonia 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 Caledonia's effective property tax rate to other areas in Racine County and the national median. For comparison, the zip code 53406 has the highest median property tax rate of 1.59%, while zip code 53108 has the lowest median tax rate of 1.56%. Understanding how these areas compare with Caledonia provides valuable insights into the varying tax landscape across Racine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
1.57%
Average Racine County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53108 | 1.12% | 1.21% | 1.56% | 1.58% | 1.68% |
| 53402 | 0.79% | 1.58% | 1.59% | 1.67% | 1.88% |
| 53404 | 1.56% | 1.58% | 1.59% | 1.68% | 2.06% |
| 53405 | N/A | N/A | N/A | N/A | N/A |
| 53406 | 1.57% | 1.59% | 1.59% | 1.65% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Racine County, Wisconsin
In Caledonia, 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 Racine County Assessor's Office 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 Caledonia, 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. For instance, the highest median tax bill in the region is $5,432 in the 53406 zip code, while the lowest median tax bill is $3,530 in the 53404 zip code. 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 Caledonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Caledonia, Racine County, Wisconsin
Source: Ownwell
$81,109
$214,390
$347,670
Average Caledonia Assessed Value
$263,221
Average Racine County Assessed Value
$210,852
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53108 | $150,692 | $184,916 | $262,286 | $349,136 | $505,922 |
| 53402 | $185,215 | $217,428 | $267,235 | $331,378 | $429,123 |
| 53404 | $122,587 | $203,704 | $236,656 | $257,695 | $298,675 |
| 53405 | N/A | N/A | N/A | N/A | N/A |
| 53406 | $240,522 | $262,514 | $314,156 | $374,286 | $380,930 |
Source: Ownwell
Property Tax Bills Across Caledonia, Racine County, Wisconsin
In Caledonia, located in Racine County, WI, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and is intended to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any improvements made. For instance, the median home price in Caledonia is $263,221, and property tax bills can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $2,589, while those in the 75th percentile may see bills as high as $4,895. At the 90th percentile, tax bills can reach up to $6,684. Compared to the national median property tax rate of 0.99%, Caledonia's tax rates can have a substantial impact on homeowners, affecting their overall housing costs and financial planning.
Average Caledonia Tax Bill
$3,728
Average Racine County Tax Bill
$3,592
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Racine County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53108 | $2,206 | $2,546 | $3,630 | $4,799 | $6,705 |
| 53402 | $2,729 | $3,474 | $4,263 | $5,263 | $6,602 |
| 53404 | $2,056 | $3,045 | $3,530 | $4,318 | $5,175 |
| 53405 | N/A | N/A | N/A | N/A | N/A |
| 53406 | $3,922 | $4,149 | $5,432 | $5,951 | $6,199 |
Source: Ownwell