Hillsboro, Wisconsin Property Taxes
The median property tax rate in Hillsboro, WI is 1.45%, which is considerably 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 Hillsboro at $122,450, the typical annual property tax bill reaches $1,776, falling below the national median of $2,690. Property taxes in Hillsboro 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 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
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
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 crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 1.45%, significantly higher than both the Wisconsin state median and 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 both the highest and lowest median property tax rate of 1.45%. Understanding how these areas 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
1.45%
Average Vernon County Tax Rate
1.47%
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 | 1.15% | 1.27% | 1.45% | 1.67% | 1.78% |
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 Vernon 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. The median home price in Hillsboro is $122,450, with property tax bills ranging significantly. The 25th percentile tax bill is $1,174, while the 75th percentile reaches $2,607, and the 90th percentile goes up to $3,871. Interestingly, the highest and lowest median tax bills are both $1,776 in the 54634 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.
Average Hillsboro Assessed Value
$122,450
Average Vernon County Assessed Value
$157,400
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 | $50,790 | $80,400 | $122,450 | $179,025 | $262,740 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Wisconsin
Property tax bills in Hillsboro, WI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value, which local assessors determine based on various factors such as the property's size, age, location, and condition. In Hillsboro, the median home price stands at $122,450. Homeowners in the 25th percentile of tax bills pay around $1,174, while those in the 75th percentile face bills of up to $2,607. The 90th percentile can see tax bills as high as $3,871. These figures reflect the range of property taxes homeowners might expect, influenced by the assessed value and local tax rates. The highest and lowest median tax bills in the area are both $1,776, associated with the zip code 54634. Understanding these factors helps homeowners anticipate their property tax obligations and budget accordingly.
Average Hillsboro Tax Bill
$1,776
Average Vernon County Tax Bill
$2,337
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 | $697 | $1,174 | $1,776 | $2,607 | $3,871 |
Source: Ownwell