Krakow, Wisconsin Property Taxes
The median property tax rate in Krakow, WI is 1.04%, slightly above the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value in Krakow of $203,750, the typical annual property tax bill amounts to $2,197, which is below the national median of $2,690. Property taxes in Krakow are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Krakow'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 Krakow 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
Krakow, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$2,119
Ownwell’s Krakow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Krakow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Krakow 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 Krakow, Wisconsin
Property taxes in Krakow, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Krakow is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Krakow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Krakow 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 Krakow's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54137 zip code has the highest median property tax rate of 1.04%, while the same 54137 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Krakow provides valuable insights into the varying tax landscape across Oconto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Krakow Tax Rate
1.04%
Average Oconto County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Krakow, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54137 | 0.95% | 1.00% | 1.04% | 1.11% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Krakow, Wisconsin
In Krakow, 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 Oconto 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. 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 Krakow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 54137 has the highest median tax bill at $2,197.
Average Krakow Assessed Value
$203,750
Average Oconto County Assessed Value
$159,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Krakow, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54137 | $99,320 | $143,925 | $203,750 | $266,625 | $337,270 |
Source: Ownwell
Property Tax Bills Across Krakow, Wisconsin
Property tax bills in Krakow, WI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value as determined by the local assessor. Factors that influence this assessed value include the property's location, size, and condition. In Krakow, the median home price is $203,750, which serves as a reference point for many homeowners. The local tax rate in Krakow, coupled with the assessed value, results in varying tax bills. For instance, the 25th percentile tax bill is $1,464, while the 75th percentile tax bill climbs to $2,901. At the 90th percentile, homeowners can expect to pay around $3,555. These figures highlight the range of property tax obligations within the area. Compared to the national median property tax rate of 0.99%, Krakow's tax rates reflect regional economic conditions and local government funding needs. Homeowners in Krakow should be aware of these factors as they can significantly impact annual expenses and overall financial planning.
Average Krakow Tax Bill
$2,197
Average Oconto County Tax Bill
$2,049
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Krakow, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54137 | $1,063 | $1,464 | $2,197 | $2,901 | $3,555 |
Source: Ownwell