Portage, Wisconsin Property Taxes
The median property tax rate in Portage, WI is 1.25%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $320,783 in Portage, the typical annual property tax bill reaches $4,001, surpassing the national median of $2,690. Property taxes in Portage are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Portage'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 Portage 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
Portage, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Portage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portage 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 Portage, Wisconsin
Property taxes in Portage, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portage is 1.25%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Portage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portage 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 Portage's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53901 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Portage 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 Portage Tax Rate
1.25%
Average Sauk County Tax Rate
1.40%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portage, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53901 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Portage, Wisconsin
In Portage, 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 Portage, 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 Portage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4001, found in zip code 53901.
Average Portage Assessed Value
$320,783
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 Portage, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53901 | $320,783 | $320,783 | $320,783 | $320,783 | $320,783 |
Source: Ownwell
Property Tax Bills Across Portage, Wisconsin
In Portage, WI, property tax bills are calculated based on the assessed value of a home and the applicable tax rate set by local authorities. The median home price in this area is $320,783. Homeowners in Portage can expect a median property tax bill of $4,001, which is consistent across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity suggests a stable tax rate within the city. The property tax bill is determined by multiplying the assessed value of the property by the local tax rate. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value. In comparison to the national median property tax rate of 0.99%, Portage's effective tax rate results in a relatively high tax bill, impacting homeowners by adding a significant annual expense. This can affect decisions related to homeownership, property investments, and long-term financial planning.
Average Portage Tax Bill
$4,001
Average Sauk County Tax Bill
$3,357
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Portage, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53901 | $4,001 | $4,001 | $4,001 | $4,001 | $4,001 |
Source: Ownwell