Theresa, Washington County, Wisconsin Property Taxes
The median property tax rate in Theresa, WI is 0.86%, which is lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Theresa at $268,139, the typical annual property tax bill amounts to $2,243, falling below the national median of $2,690. Property taxes in Theresa are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Theresa'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 Theresa 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
Theresa, Washington County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,306
$2,140
Ownwell’s Theresa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Theresa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Theresa 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 Theresa, Washington County, Wisconsin
Property taxes in Theresa, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Theresa is 0.86%, which is slightly below the U.S. national median of 0.99%. Local government entities within Theresa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Theresa 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 Theresa's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53091 has both the highest and lowest median property tax rate of 0.86%. Understanding how these areas compare with Theresa provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Theresa Tax Rate
0.86%
Average Washington County Tax Rate
1.22%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Theresa, Washington County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | 0.82% | 0.84% | 0.86% | 0.90% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Theresa, Washington County, Wisconsin
In Theresa, 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 Washington 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 Theresa, 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 Theresa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Theresa are both $2,243 in zip code 53091, indicating a consistent tax environment across the area.
Property Tax Assessment Values Across Theresa, Washington County, Wisconsin
Source: Ownwell
$227,054
$310,284
$393,513
Average Theresa Assessed Value
$268,139
Average Washington County Assessed Value
$284,190
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Theresa, Washington County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $194,928 | $208,831 | $268,139 | $330,752 | $388,355 |
Source: Ownwell
Property Tax Bills Across Theresa, Washington County, Wisconsin
In Theresa, located in Washington County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Theresa is $268,139. Homeowners in this city typically see tax bills ranging from $1,842 at the 25th percentile to $3,370 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,243, which is slightly above the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the home's assessed value, local government budgets, and school district funding requirements. Higher property values result in higher tax bills, directly impacting homeowners' financial planning. Additionally, local services such as public safety, infrastructure, and education benefit from these tax revenues. Understanding these elements helps homeowners anticipate their annual tax obligations and underscores the importance of accurate property assessments.
Average Theresa Tax Bill
$2,243
Average Washington County Tax Bill
$3,282
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Theresa, Washington County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $1,703 | $1,842 | $2,243 | $2,798 | $3,370 |
Source: Ownwell