Oconto Falls, Wisconsin Property Taxes
The median property tax rate in Oconto Falls, WI is 1.52%, slightly lower than the Wisconsin state median of 1.58% but still considerably higher than the national median of 0.99%. With a median home value of $151,100 in Oconto Falls, the typical annual property tax bill reaches $2,390, which is below the national median of $2,690. Property taxes in Oconto Falls 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 Oconto Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Oconto Falls 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
Oconto Falls, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Oconto Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oconto Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oconto Falls 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 Oconto Falls, Wisconsin
Property taxes in Oconto Falls, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oconto Falls is 1.52%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Oconto Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oconto Falls 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 Oconto Falls' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54154 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Oconto Falls 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 Oconto Falls Tax Rate
1.52%
Average Oconto County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oconto Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54154 | 1.17% | 1.33% | 1.52% | 1.86% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Oconto Falls, Wisconsin
In Oconto Falls, 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 local 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 Oconto Falls, 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 Oconto Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54154 has both the highest and lowest median tax bill, valued at $2,390.
Average Oconto Falls Assessed Value
$151,100
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 Oconto Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54154 | $66,180 | $101,000 | $151,100 | $224,100 | $294,560 |
Source: Ownwell
Property Tax Bills Across Oconto Falls, Wisconsin
In Oconto Falls, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $151,100. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. This rate is influenced by various factors, including funding requirements for public services, schools, and infrastructure projects. Homeowners in Oconto Falls can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is about $1,666, while at the 75th percentile, it reaches approximately $3,396. At the 90th percentile, homeowners might face a tax bill as high as $4,486. The highest and lowest median tax bills in the area are both $2,390, reflecting the uniformity in certain parts of the city. These property taxes play a crucial role in supporting community services but can also impact the affordability and overall cost of homeownership in Oconto Falls.
Average Oconto Falls Tax Bill
$2,390
Average Oconto County Tax Bill
$2,049
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Oconto Falls, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54154 | $923 | $1,666 | $2,390 | $3,396 | $4,486 |
Source: Ownwell