Hillsboro, Wisconsin Property Taxes
The median property tax rate in Hillsboro, WI is 1.54%, slightly higher than the national median of 0.99% but just below the Wisconsin state median of 1.58%. With a median home value of $125,800, the typical annual property tax bill in Hillsboro amounts to $1,761, which is lower than the national median of $2,690. Property taxes in Hillsboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Hillsboro'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 Hillsboro 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
Hillsboro, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$1,937
$1,798
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, Wisconsin
Property taxes in Hillsboro, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 1.54%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54634 zip code has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Hillsboro provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
1.54%
Average Richland County Tax Rate
1.66%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54634 | 1.22% | 1.49% | 1.54% | 1.58% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, Wisconsin
In Hillsboro, 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 Hillsboro, 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 Hillsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $125,800, with tax bills ranging from $1,419 at the 25th percentile to $4,521 at the 90th percentile. The highest and lowest median tax bills are both $1,761, found in zip code 54634.
Average Hillsboro Assessed Value
$125,800
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 Hillsboro, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54634 | $91,400 | $99,550 | $125,800 | $192,925 | $295,900 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Wisconsin
Property tax bills in Hillsboro, located in Richland County, WI, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value and then applies an assessment ratio. This assessed value is then multiplied by the tax rate, which is set by local government entities to meet budgetary needs. Several factors influence the final tax bill, including property size, location, and any improvements made to the property. For instance, the median home price in Hillsboro is $125,800, and property owners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $1,419, while the 75th percentile reaches $3,061, and the 90th percentile can be as high as $4,521. These property taxes impact homeowners by contributing to essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Hillsboro's rates can be seen as relatively high, reflecting the community's investment in local amenities and services.
Average Hillsboro Tax Bill
$1,761
Average Richland County Tax Bill
$1,704
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54634 | $1,258 | $1,419 | $1,761 | $3,061 | $4,521 |
Source: Ownwell