Marengo, Wisconsin Property Taxes
The median property tax rate in Marengo, WI is 1.81%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Marengo, the typical annual property tax bill reaches $1,781, which is below the national median of $2,690. Property taxes in Marengo 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 Marengo'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 Marengo 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
Marengo, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$1,870
Ownwell’s Marengo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marengo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marengo 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 Marengo, Wisconsin
Property taxes in Marengo, Wisconsin, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marengo is 1.81%, significantly higher than the U.S. national median of 0.99%. Local government entities within Marengo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marengo 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 Marengo's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest and lowest median property tax rates in Ashland County are both 1.81%, found in the zip code 54855. Understanding how these cities compare with Marengo provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marengo Tax Rate
1.81%
Average Ashland County Tax Rate
1.89%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marengo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54855 | 1.40% | 1.68% | 1.81% | 1.84% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Marengo, Wisconsin
In Marengo, 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 Ashland 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 Marengo, 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 Marengo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 54855, with a tax bill of $1781.00, while the lowest median tax bill also occurs in the same zip code at $1781.00.
Average Marengo Assessed Value
$103,300
Average Ashland County Assessed Value
$101,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marengo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54855 | $27,540 | $54,750 | $103,300 | $170,250 | $215,840 |
Source: Ownwell
Property Tax Bills Across Marengo, Wisconsin
In Marengo, WI, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Marengo is $103,300. Property taxes are calculated by multiplying the assessed value by the local tax rate. For instance, if a home is assessed at $100,000 and the local tax rate is 1%, the annual property tax bill would be $1,000. Various factors influence the tax bill, including the assessed value of the property, local government budgets, and specific levies for schools, infrastructure, and public services. Homeowners in Marengo can expect to see tax bills that range widely. The 25th percentile tax bill is around $891, while the 75th percentile tax bill is approximately $2,975. The 90th percentile tax bill reaches up to $3,859. Compared to the national median property tax rate of 0.99%, Marengo's rates can vary significantly based on individual property assessments and local levies. This variability can impact homeowners differently, with some experiencing higher tax burdens depending on their property's assessed value and location within the county.
Average Marengo Tax Bill
$1,781
Average Ashland County Tax Bill
$1,986
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Marengo, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54855 | $449 | $891 | $1,781 | $2,975 | $3,859 |
Source: Ownwell