Blue River, Wisconsin Property Taxes
The median property tax rate in Blue River, WI is 1.48%, which is higher than the national median of 0.99% but slightly lower than the Wisconsin state median of 1.58%. With the median home value in Blue River at $85,400, the typical annual property tax bill is $1,292, falling below the national median of $2,690. Property taxes in Blue River are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Blue River'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 Blue River 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
Blue River, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,264
Ownwell’s BLUE RIVER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLUE RIVER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLUE RIVER 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 Blue River, Wisconsin
Property taxes in Blue River, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue River is 1.48%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Blue River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue River 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 Blue River's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53518 has both the highest and lowest median property tax rate of 1.48%. Understanding how these areas compare with Blue River provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue River Tax Rate
1.48%
Average Richland County Tax Rate
1.66%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53518 | 1.20% | 1.42% | 1.48% | 1.56% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Blue River, Wisconsin
In Blue River, 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 Richland 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 Blue River, 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 median home price in Blue River is $85,400, with tax bills ranging from $523 at the 25th percentile to $4,184 at the 90th percentile. 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 Blue River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blue River Assessed Value
$85,400
Average Richland County Assessed Value
$97,250
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53518 | $17,160 | $36,750 | $85,400 | $200,250 | $265,400 |
Source: Ownwell
Property Tax Bills Across Blue River, Wisconsin
In Blue River, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Blue River is $85,400. Homeowners' tax bills can vary significantly, with the 25th percentile at $523 and the 75th percentile reaching $3,111. The 90th percentile tax bill is $4,184, reflecting the higher end of the spectrum. 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. Several factors influence the assessed value, including the property's location, size, and condition. Homeowners in Blue River may find their tax bills higher or lower depending on these factors. Compared to the national median property tax rate of 0.99%, Blue River's tax rates can result in varying financial impacts for residents, making it crucial for homeowners to understand how their property taxes are determined and what exemptions or appeals might be available to them.
Average Blue River Tax Bill
$1,292
Average Richland County Tax Bill
$1,704
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53518 | $207 | $523 | $1,292 | $3,111 | $4,184 |
Source: Ownwell