Chili, Wisconsin Property Taxes
The median property tax rate in Chili, WI is 1.62%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Chili at $135,700, the typical annual property tax bill reaches $2,194, which is below the national median of $2,690. Property taxes in Chili are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chili'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 Chili 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
Chili, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Chili Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chili with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chili 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 Chili, Wisconsin
Property taxes in Chili, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chili is 1.62%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Chili set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chili 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 Chili's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54420 zip code has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Chili provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chili Tax Rate
1.62%
Average Clark County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chili, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54420 | 1.35% | 1.52% | 1.62% | 1.72% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Chili, Wisconsin
In Chili, 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 Clark 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 Chili, 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. Notably, the highest median tax bill in Chili is $2,194 in the 54420 zip code, while the lowest median tax bill is also $2,194 in the same zip code. 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 Chili helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chili Assessed Value
$135,700
Average Clark County Assessed Value
$124,600
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chili, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54420 | $56,200 | $94,500 | $135,700 | $201,800 | $269,500 |
Source: Ownwell
Property Tax Bills Across Chili, Wisconsin
In the city of Chili, located in Clark County, WI, property tax bills are calculated based on the assessed value of the property. This assessed value is determined by local assessors who evaluate the market conditions and specific characteristics of each property. Once the assessed value is established, the property tax rate, which is set by local government authorities, is applied to this value to calculate the tax bill. Several factors influence the final tax bill, including the property's size, location, and any improvements made. For instance, the median home price in Chili is $135,700, and property tax bills can vary significantly. The tax bill at the 25th percentile is $1,506, while those at the 75th and 90th percentiles are $3,246 and $4,573, respectively. These figures show the range of tax burdens that homeowners might face. Homeowners in Chili may find their property tax rates higher or lower than the national median property tax rate of 0.99%, affecting their overall financial planning and homeownership costs.
Average Chili Tax Bill
$2,194
Average Clark County Tax Bill
$2,005
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Chili, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54420 | $796 | $1,506 | $2,194 | $3,246 | $4,573 |
Source: Ownwell