Rochester, Wisconsin Property Taxes
The median property tax rate in Rochester, WI is 1.41%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Rochester, the typical annual property tax bill reaches $2,741, slightly above the national median of $2,690. Property taxes in Rochester 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 Rochester'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 Rochester 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
Rochester, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$2,783
$2,583
Ownwell’s Rochester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rochester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rochester 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 Rochester, Wisconsin
Property taxes in Rochester, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rochester is 1.41%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Rochester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rochester 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 Rochester's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53167 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Rochester 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 Rochester Tax Rate
1.41%
Average Racine County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rochester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53167 | 0.71% | 1.39% | 1.41% | 1.56% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Rochester, Wisconsin
In Rochester, 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 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 Rochester, 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 Rochester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,741 in zip code 53167, while the lowest is also $2,741 in the same zip code.
Average Rochester Assessed Value
$197,396
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 Rochester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53167 | $79,309 | $161,382 | $197,396 | $232,784 | $265,820 |
Source: Ownwell
Property Tax Bills Across Rochester, Wisconsin
In Rochester, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Rochester stands at $197,396, and the property tax rate is higher than the national median of 0.99%. Homeowners in Rochester can expect to pay a tax bill that varies significantly. For example, the tax bill at the 25th percentile is $2,074, while those at the 75th percentile pay around $3,308. At the 90th percentile, the tax bill reaches up to $3,885. These figures indicate that property taxes can be a substantial expense for homeowners, influencing their overall cost of living. Factors such as property improvements, neighborhood developments, and changes in local government budgets can also impact the assessed value and, consequently, the tax bill. Homeowners need to be aware of these factors as they can significantly affect their annual financial obligations.
Average Rochester Tax Bill
$2,741
Average Racine County Tax Bill
$3,592
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Rochester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53167 | $1,032 | $2,074 | $2,741 | $3,308 | $3,885 |
Source: Ownwell