Little Suamico, Wisconsin Property Taxes
The median property tax rate in Little Suamico, WI is 1.31%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $247,950 in Little Suamico, the typical annual property tax bill amounts to $3,136, surpassing the national median of $2,690. Property taxes in Little Suamico are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Little Suamico'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 Little Suamico 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
Little Suamico, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$3,248
Ownwell’s Little Suamico Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Suamico with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Suamico 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 Little Suamico, Wisconsin
Property taxes in Little Suamico, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Suamico is 1.31%, which is notably higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Little Suamico set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Suamico 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 Little Suamico's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54141 has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Little Suamico 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 Little Suamico Tax Rate
1.31%
Average Oconto County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Suamico, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54141 | 1.04% | 1.17% | 1.31% | 1.37% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Little Suamico, Wisconsin
In Little Suamico, 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 Assessor 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 Little Suamico, 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 Little Suamico helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $3,136 in the 54141 zip code, while the lowest is also $3,136 in the same zip code.
Property Tax Assessment Values Across Little Suamico, Wisconsin
Source: Ownwell
$86,650
$252,975
$419,300
Average Little Suamico Assessed Value
$247,950
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 Little Suamico, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54141 | $117,600 | $171,500 | $247,950 | $356,500 | $478,240 |
Source: Ownwell
Property Tax Bills Across Little Suamico, Wisconsin
In Little Suamico, 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. This value is then multiplied by the tax rate set by local taxing authorities to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. Homeowners in Little Suamico pay property taxes that can vary significantly. For instance, the 25th percentile tax bill is $2,175, while the 75th percentile reaches $4,498, and the 90th percentile can be as high as $5,850. This range highlights the impact of property characteristics and assessed values on tax obligations. Compared to the national median property tax rate of 0.99%, homeowners in Little Suamico experience a diverse spectrum of tax bills. Understanding these factors is essential for homeowners to anticipate their financial responsibilities and plan accordingly.
Average Little Suamico Tax Bill
$3,136
Average Oconto County Tax Bill
$2,049
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Suamico, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54141 | $1,478 | $2,175 | $3,136 | $4,498 | $5,850 |
Source: Ownwell