Fenwood, Wisconsin Property Taxes
The median property tax rate in Fenwood, WI is 1.35%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Fenwood, the typical annual property tax bill reaches $269, significantly below the national median of $2,690. Property taxes in Fenwood 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 Fenwood'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 Fenwood or another part of Marathon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fenwood, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$268
Ownwell’s Fenwood Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Fenwood with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fenwood to estimate your property tax bill. This valuable tool provides insights into potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Fenwood, Wisconsin
Property taxes in Fenwood, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fenwood is 1.35%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Fenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fenwood 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 Fenwood's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54426 zip code has the highest median property tax rate of 1.35%, while the 54426 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Fenwood provides valuable insights into the varying tax landscape across Marathon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fenwood Tax Rate
1.35%
Average Marathon County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54426 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Fenwood, Wisconsin
In Fenwood, 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 Marathon 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 Fenwood, 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 Fenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54426 has the highest and lowest median tax bill at $269, reflecting the area's consistent property tax landscape.
Average Fenwood Assessed Value
$19,879
Average Marathon County Assessed Value
$164,200
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54426 | $19,879 | $19,879 | $19,879 | $19,879 | $19,879 |
Source: Ownwell
Property Tax Bills Across Fenwood, Wisconsin
In Fenwood, Marathon 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 Fenwood is $19,879, with a median property tax bill of $269. This tax bill remains consistent across different percentiles, indicating a uniform tax rate in the area. The assessed value of a property is determined by local assessors who evaluate the property's market value. This valuation is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners, this means that any changes in the assessed value of their property or adjustments in the tax rate can directly impact their tax obligations. Compared to the national median property tax rate of 0.99%, Fenwood's tax rate results in relatively low property tax bills. This can be beneficial for homeowners, making it more affordable to own property in this region. However, it's essential for property owners to stay informed about any changes in local tax rates or property assessments to manage their expenses effectively.
Average Fenwood Tax Bill
$269
Average Marathon County Tax Bill
$2,706
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Fenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54426 | $269 | $269 | $269 | $269 | $269 |
Source: Ownwell