Wausau, Florida Property Taxes
The median property tax rate in Wausau, Florida is 1.11%, slightly higher than the national median of 0.99% but below the Florida state median of 1.14%. With a median home value of $62,285 in Wausau, the typical annual property tax bill amounts to $386, which is significantly lower than the national median of $2,690. Property taxes in Wausau are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Wausau'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 Wausau 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
Wausau, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$691
$654
Ownwell’s Wausau Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wausau with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wausau 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 Wausau, Florida
Property taxes in Wausau, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wausau is 1.11%, significantly higher than both the Florida state median and the U.S. national median of 0.99%. Local government entities within Wausau set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wausau 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 Wausau's effective property tax rate to other counties in Florida and the national median. For comparison, the 32463 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Wausau 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 Wausau Tax Rate
1.11%
Average Washington County Tax Rate
0.80%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wausau, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32463 | 0.17% | 0.39% | 1.11% | 1.23% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Wausau, Florida
In Wausau, Florida, 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 Wausau, 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. For instance, the median home price in Wausau is $62,285, with tax bills ranging from $181 at the 25th percentile to $976 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wausau Assessed Value
$62,285
Average Washington County Assessed Value
$92,402
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wausau, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32463 | $19,087 | $38,254 | $62,285 | $80,955 | $101,690 |
Source: Ownwell
Property Tax Bills Across Wausau, Florida
In Wausau, Washington County, FL, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in this area is $62,285, which serves as a significant factor in determining the tax bill. Homeowners can expect their annual property tax bills to vary widely; the 25th percentile tax bill is around $181, while the 75th percentile reaches up to $735. For those in the 90th percentile, the tax bill can be as high as $976. The highest median tax bill in the county is $386, found in the 32463 zip code, which also represents the lowest median tax bill, highlighting a uniform rate across this particular area. Compared to the national median property tax rate of 0.99%, homeowners in Wausau experience relatively lower property taxes. These factors collectively influence the financial responsibilities of homeowners, impacting their overall cost of living and budget planning.
Average Wausau Tax Bill
$386
Average Washington County Tax Bill
$731
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Wausau, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32463 | $102 | $181 | $386 | $735 | $976 |
Source: Ownwell