Princeton, Wisconsin Property Taxes
The median property tax rate in Princeton, WI is 1.47%, 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 Princeton, the typical annual property tax bill reaches $1,891, which is below the national median of $2,690. Property taxes in Princeton 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 Princeton'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 Princeton 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
Princeton, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.47%
Estimate Property Tax Bill
$1,734
Ownwell’s Princeton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Princeton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Princeton 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 Princeton, Wisconsin
Property taxes in Princeton, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Princeton is 1.47%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Princeton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Princeton 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 Princeton's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54968 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Princeton 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 Princeton Tax Rate
1.47%
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 Princeton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54968 | 1.28% | 1.37% | 1.47% | 2.00% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Princeton, Wisconsin
In Princeton, 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 Princeton, 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 Princeton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,891, located in the 54968 zip code.
Average Princeton Assessed Value
$117,949
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 Princeton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54968 | $53,866 | $74,826 | $117,949 | $180,812 | $266,201 |
Source: Ownwell
Property Tax Bills Across Princeton, Wisconsin
In Princeton, 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 assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Princeton can expect a median property tax rate of 1.60%, which is significantly higher than the national median of 0.99%. For a typical home priced at $117,949, the property tax bill can range widely. At the 25th percentile, homeowners might pay around $1,397, while those in the 75th percentile could see bills as high as $2,638. At the 90th percentile, the tax bill can reach up to $3,818. The highest and lowest median tax bills in the area are both recorded at $1,891 in zip code 54968. These tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors can help residents better manage their property-related expenses.
Average Princeton Tax Bill
$1,891
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 Princeton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54968 | $943 | $1,397 | $1,891 | $2,638 | $3,818 |
Source: Ownwell