Markesan, Wisconsin Property Taxes
The median property tax rate in Markesan, WI is 1.50%, which is higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With a median home value of $141,257 in Markesan, the typical annual property tax bill amounts to $2,327, which is below the national median of $2,690. Property taxes in Markesan are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Markesan'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 Markesan or another part of Green Lake County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Markesan, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,119
Ownwell’s Markesan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Markesan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Markesan 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 Markesan, Wisconsin
Property taxes in Markesan, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Markesan is 1.50%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Markesan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Markesan 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 Markesan's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53946 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Markesan provides valuable insights into the varying tax landscape across Green Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Markesan Tax Rate
1.50%
Average Green Lake County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | 1.27% | 1.34% | 1.50% | 1.95% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Markesan, Wisconsin
In Markesan, 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 Green Lake 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 Markesan, 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 Markesan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in Markesan is 53946, both at $2,327.
Average Markesan Assessed Value
$141,257
Average Green Lake County Assessed Value
$141,945
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $75,438 | $105,187 | $141,257 | $208,651 | $309,853 |
Source: Ownwell
Property Tax Bills Across Markesan, Wisconsin
In Markesan, located in Green Lake County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Markesan is $141,257, and homeowners can expect to pay a property tax bill that varies significantly depending on their property's assessed value and the specific tax rate applied. For instance, the 25th percentile tax bill stands at $1,721, while the 75th percentile reaches $3,250, and the 90th percentile can go up to $4,777. Factors that influence the tax bill include the home's assessed value, which is determined by the local assessor, and the local tax rate, which is set by the county. These taxes fund essential public services such as schools, roads, and emergency services. Homeowners in Markesan should be aware that their property tax bill can vary widely, affecting their annual expenses and overall financial planning. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens.
Average Markesan Tax Bill
$2,327
Average Green Lake County Tax Bill
$2,317
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $1,081 | $1,721 | $2,327 | $3,250 | $4,777 |
Source: Ownwell