Lime Ridge, Wisconsin Property Taxes
The median property tax rate in Lime Ridge, WI is 1.27%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Lime Ridge at $79,873, the typical annual property tax bill reaches $1,145, exceeding the national median of $2,690. Property taxes in Lime Ridge are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lime Ridge'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 Lime Ridge 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
Lime Ridge, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$1,014
Ownwell’s Lime Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lime Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lime Ridge 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 Lime Ridge, Wisconsin
Property taxes in Lime Ridge, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lime Ridge is 1.27%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lime Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lime Ridge 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 Lime Ridge's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the highest and lowest median property tax rates in Sauk County are both found in the 53942 zip code, standing at 1.27%. Understanding how these areas compare with Lime Ridge provides valuable insights into the varying tax landscape across Sauk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lime Ridge Tax Rate
1.27%
Average Sauk County Tax Rate
1.40%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lime Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53942 | 0.90% | 1.02% | 1.27% | 1.65% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Lime Ridge, Wisconsin
In Lime Ridge, 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 Sauk 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 Lime Ridge, 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 Lime Ridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 53942 has the highest and lowest median tax bill at $1,145, reflecting the uniformity in tax assessments within the area.
Average Lime Ridge Assessed Value
$79,873
Average Sauk County Assessed Value
$227,964
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lime Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53942 | $24,582 | $61,753 | $79,873 | $120,701 | $149,105 |
Source: Ownwell
Property Tax Bills Across Lime Ridge, Wisconsin
In Lime Ridge, WI, property tax bills are determined by the assessed value of the property and the local tax rate set by Sauk County. The assessed value is an estimate of the property's market value, which is then multiplied by the tax rate to calculate the annual tax bill. For example, with a median home price of $79,873, homeowners can expect varying tax bills depending on their property's assessed value and other factors such as exemptions or deductions. The tax bill in Lime Ridge typically ranges from $746 at the 25th percentile to $2,162 at the 90th percentile. This variation reflects differences in property values and potential tax reliefs. The highest median tax bill in the area is $1,145, which is relatively moderate compared to the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes directly impact annual housing costs. Properly managing and appealing property assessments can result in significant savings, making it essential for homeowners to stay informed and proactive.
Average Lime Ridge Tax Bill
$1,145
Average Sauk County Tax Bill
$3,357
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lime Ridge, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53942 | $192 | $746 | $1,145 | $1,743 | $2,162 |
Source: Ownwell