Richland Center, Wisconsin Property Taxes
The median property tax rate in Richland Center, WI is 2.02%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Richland Center, the typical annual property tax bill reaches $1,704, which is still below the national median of $2,690. Property taxes in Richland Center 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 Richland Center'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 Richland Center 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
Richland Center, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.02%
Estimate Property Tax Bill
$1,874
$1,739
Ownwell’s Richland Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richland Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richland Center 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 Richland Center, Wisconsin
Property taxes in Richland Center, Wisconsin, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Richland Center is 2.02%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Richland Center set these rates annually, and they can vary across different neighborhoods. Each year, Richland Center 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 Richland Center's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53581 has the highest median property tax rate of 2.02%, while the lowest median tax rate is also 2.02%. Understanding how these areas compare with Richland Center 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 Richland Center Tax Rate
2.02%
Average Richland County Tax Rate
1.66%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richland Center, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53581 | 1.48% | 1.67% | 2.02% | 2.11% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Richland Center, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Richland Center, Wisconsin. 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 local 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 Richland Center, 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. The median home price in Richland Center is $92,750, with annual property tax bills ranging from $1,205 at the 25th percentile to $3,785 at the 90th percentile. The highest and lowest median tax bills are both $1,704, found in the 53581 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Richland Center, Wisconsin
Source: Ownwell
$78,250
$172,175
$266,100
Average Richland Center Assessed Value
$92,750
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 Richland Center, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53581 | $40,350 | $62,600 | $92,750 | $146,150 | $226,600 |
Source: Ownwell
Property Tax Bills Across Richland Center, Wisconsin
Property tax bills in Richland Center, 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 and reflects the market value of the property. This value is then multiplied by the local tax rate to calculate the annual property tax bill. In Richland Center, the median home price is $92,750. Homeowners can expect to pay a tax bill that varies significantly depending on their property's assessed value. For instance, the 25th percentile tax bill is $1,205, while the 75th percentile tax bill is $2,713. At the higher end, the 90th percentile tax bill reaches $3,785. These taxes fund essential local services such as public schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Richland Center's tax rates can be relatively high, impacting homeowners' annual budgets. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Richland Center Tax Bill
$1,704
Average Richland County Tax Bill
$1,704
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Richland Center, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53581 | $787 | $1,205 | $1,704 | $2,713 | $3,785 |
Source: Ownwell