Fairchild, Wisconsin Property Taxes
The median property tax rate in Fairchild, WI is 1.47%, which is considerably higher than the national median of 0.99% but slightly lower than the Wisconsin state median of 1.58%. With the median home value in Fairchild at $174,200, the typical annual property tax bill reaches $2,697, just above the national median of $2,690. Property taxes in Fairchild are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fairchild'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 Fairchild 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
Fairchild, 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 Fairchild Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairchild with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairchild 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 Clark County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fairchild, Wisconsin
Property taxes in Fairchild, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairchild is 1.47%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fairchild set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairchild 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 Fairchild's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54741 zip code has the highest median property tax rate of 1.47%, while the 54741 zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Fairchild 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 Fairchild Tax Rate
1.47%
Average Clark County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairchild, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54741 | 0.90% | 1.39% | 1.47% | 1.51% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Fairchild, Wisconsin
In Fairchild, 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 local assessment authorities 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 Fairchild, 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 Fairchild is $174,200, with tax bills ranging from $2,162 at the 25th percentile to $3,504 at the 75th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairchild Assessed Value
$174,200
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 Fairchild, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54741 | $123,640 | $148,200 | $174,200 | $225,000 | $250,320 |
Source: Ownwell
Property Tax Bills Across Fairchild, Wisconsin
In Fairchild, WI, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Fairchild is $174,200, which serves as a baseline for calculating property taxes. The local tax rate, applied to the assessed value, determines the annual tax bill. Homeowners in Fairchild can expect their tax bills to vary depending on several factors, including the assessed value of their property and any applicable exemptions. For instance, tax bills in Fairchild range from the 25th percentile at $2,162 to the 75th percentile at $3,504, with the 90th percentile reaching up to $3,892. These figures illustrate the variability in tax bills within the area, influenced by the assessed property values and local tax policies. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values can significantly impact homeowners' annual tax obligations. Understanding these factors is crucial for homeowners to anticipate their property tax responsibilities accurately.
Average Fairchild Tax Bill
$2,697
Average Clark County Tax Bill
$2,005
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairchild, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54741 | $1,141 | $2,162 | $2,697 | $3,504 | $3,892 |
Source: Ownwell