Theresa, Wisconsin Property Taxes
The median property tax rate in Theresa, WI is 1.43%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Theresa at $385,042, the typical annual property tax bill reaches $5,495, exceeding the national median of $2,690. Property taxes in Theresa 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 Theresa'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 Theresa 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
Theresa, 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 Theresa Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Theresa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Theresa 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 Theresa, Wisconsin
Property taxes in Theresa, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Theresa is 1.43%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Theresa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Theresa 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 Theresa's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53091 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Theresa provides valuable insights into the varying tax landscape across Fond du Lac, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Theresa Tax Rate
1.43%
Average Fond Du Lac County Tax Rate
1.74%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Theresa, Wisconsin
In Theresa, 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 Fond du Lac 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 Theresa, 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 example, the zip code 53091 in Theresa has both the highest and lowest median tax bills at $5,495. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Theresa Assessed Value
$385,042
Average Fond Du Lac County Assessed Value
$166,996
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $382,581 | $383,504 | $385,042 | $386,581 | $387,504 |
Source: Ownwell
Property Tax Bills Across Theresa, Wisconsin
In Theresa, Fond du Lac County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Theresa, the median home price is $385,042. Property tax bills in this area range significantly, with the 25th percentile at $5,472 and the 90th percentile reaching $5,532. The highest and lowest median tax bills both stand at $5,495, indicating a relatively consistent tax rate across the region. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Theresa's property tax rates can be considered relatively high, impacting homeowners by contributing to their overall housing costs. Understanding these factors is crucial for homeowners to anticipate their annual expenses and plan accordingly.
Average Theresa Tax Bill
$5,495
Average Fond Du Lac County Tax Bill
$2,722
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Theresa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53091 | $5,458 | $5,472 | $5,495 | $5,518 | $5,532 |
Source: Ownwell