Dane County Property Taxes

September 25th, 2011 by keithandkinsey

Property taxes are a big factor when purchasing a home. Your property taxes could be 35% or more of your mortgage payment. Even if you’re retired, debt free, and paying cash for a home, property taxes could be a significant chunk of your annual income.

We have heard comments from some buyers and sellers such as “I don’t want to live in Madison because the taxes are too high.” Or “I’d like to move outside of Dane County to have cheaper taxes.” Well, it turns out, that’s just not true.

Below is a chart showing property taxes in different communities based on a $200,000 home. As you can see, some communities where people assume taxes are high, such as: Middleton, Madison, and Verona are actually some of the lowest taxes in the area. Communities just outside of Dane County, such as: Lodi, Beaver Dam, Cambridge, Evansville, and Arena actually have some of the higher tax rates. These smaller communities have less of a tax base to support their village infrastructure, and they have to get the money from somewhere.

I should point out though, typically the further you get from Madison, the lower the price for a similar home. Lower house price can definitely offset some of the tax expenses. Just make sure you don’t forget to factor in property taxes when you’re buying a home.

To look up tax data in your community click here.

Posted in Blog, Income Property, Real Estate