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Madison Reporter

Sunday, December 22, 2024

Dane County effective property tax rate in Q4 2023 was higher than the national average

Realestate077

Property owners in Dane County paid 1.9% of the value of their homes in property taxes in the fourth quarter of 2023, which is more than 1.7 times the national average, according to the real estate analysis posted by Madison Reporter.

The median sales price of a Dane County home in the fourth quarter of 2023 was $360,000, based on data from the 1,991 properties sold during that time. In 2023, the median tax bill for the county was $6,684, which is 1.9% of the median value of the homes that were taxed.

This is 1.7 times higher than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Dane County real estate data showed homeowners in Brooklyn, Maple Bluff, and Deerfield paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Brooklyn with some other cities belonging to Dane County by their median effective property tax rate, calculated using sales and property tax data from the fourth quarter of 2023.

CityQ4 2023 SalesQ4 2023 Median PriceMedian tax 2023Effective tax rate
Brooklyn7$196,600$5,8173%
Maple Bluff12$675,000$14,8242.2%
Deerfield20$216,750$4,6962.2%
Fitchburg87$380,000$7,7522%
Windsor40$318,650$6,4412%
Verona68$344,130$6,8192%
Cross Plains16$290,000$5,9312%
Mazomanie13$225,000$4,5592%
Black Earth16$233,000$4,7062%
Sun Prairie149$350,000$6,4761.9%
DeForest62$323,750$6,2501.9%
Madison1,048$370,000$6,8161.8%
Oregon55$344,000$6,1921.8%
Mount Horeb36$335,000$5,6701.7%
Middleton91$454,500$7,8791.7%
McFarland46$398,250$6,7201.7%
Shorewood Hills5$840,450$14,5391.7%
Stoughton79$296,500$5,0801.7%
Waunakee66$484,500$8,3371.7%
Marshall17$276,000$4,2801.6%
Belleville13$335,000$5,4511.6%
Cottage Grove21$471,500$6,9881.5%
Dane7$449,900$5,7661.3%
Cambridge10$307,950$4,1561.3%
Blue Mounds3$410,000$5,2591.3%

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