Collins, Wisconsin Property Taxes
The median property tax rate in Collins, WI is 1.28%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Collins, the typical annual property tax bill reaches $1,861, falling below the national median of $2,690. Property taxes in Collins are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Collins' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Collins 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
Collins, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,811
Ownwell’s Collins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collins 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 Collins, Wisconsin
Property taxes in Collins, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collins is 1.28%, notably higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Collins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collins 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 Collins' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54207 zip code has the highest median property tax rate of 1.28%, while the 54207 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Collins provides valuable insights into the varying tax landscape across Manitowoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collins Tax Rate
1.28%
Average Manitowoc County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collins, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54207 | 1.16% | 1.21% | 1.28% | 1.36% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Collins, Wisconsin
In Collins, 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 Manitowoc 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 Collins, 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 Collins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Collins, the zip code with the highest median tax bill is 54207, at $1,861, while the zip code with the lowest median tax bill is also 54207, at $1,861.
Average Collins Assessed Value
$141,512
Average Manitowoc County Assessed Value
$151,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Collins, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54207 | $64,910 | $119,016 | $141,512 | $189,388 | $219,089 |
Source: Ownwell
Property Tax Bills Across Collins, Wisconsin
In Collins, 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 Manitowoc County assessor’s office, which evaluates properties to estimate their market value. This value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $141,512, homeowners can expect varying tax bills. The 25th percentile tax bill is $1,458, while the 75th percentile reaches $2,650, and the 90th percentile can be as high as $3,019. These figures show the range of what homeowners might pay, influenced by factors such as property improvements, location, and changes in the local tax rate. Compared to the national median property tax rate of 0.99%, residents in Collins may find their tax bills to be relatively moderate. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners' annual financial planning.
Average Collins Tax Bill
$1,861
Average Manitowoc County Tax Bill
$2,169
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Collins, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54207 | $690 | $1,458 | $1,861 | $2,650 | $3,019 |
Source: Ownwell