Plum City, Wisconsin Property Taxes
The median property tax rate in Plum City, WI is 2.54%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Plum City at $117,946, the typical annual property tax bill reaches $3,027, exceeding the national median of $2,690. Property taxes in Plum City 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 Plum City'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 Plum City 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
Plum City, 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 Plum City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plum City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plum City 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 Plum City, Wisconsin
Property taxes in Plum City, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plum City is 1.47%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Plum City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plum City 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 Plum City's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54761 zip code has the highest median property tax rate of 2.54%, while the same zip code also has the lowest median tax rate of 2.54%. Understanding how these areas compare with Plum City provides valuable insights into the varying tax landscape across Pierce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Plum City Tax Rate
2.54%
Average Pierce County Tax Rate
1.89%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plum City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54761 | 2.35% | 2.54% | 2.54% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Plum City, Wisconsin
In Plum City, 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 Pierce 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 Plum City, 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. The zip code 54761 has the highest and lowest median tax bill, both at $3,027. Being aware of these valuation processes in Plum City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Plum City Assessed Value
$117,946
Average Pierce County Assessed Value
$217,809
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Plum City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54761 | $52,075 | $84,472 | $117,946 | $153,502 | $206,716 |
Source: Ownwell
Property Tax Bills Across Plum City, Wisconsin
In Plum City within Pierce County, WI, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $117,946, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Plum City, the tax bill at the 25th percentile is $2,249, while it rises to $4,024 at the 75th percentile and reaches $5,289 at the 90th percentile. These figures indicate a significant range in tax obligations based on property values and assessments. Compared to the national median property tax rate of 0.99%, Plum City's property tax rates can vary widely, impacting homeowners differently. High property taxes can affect affordability and long-term financial planning for residents, making it crucial for homeowners to understand their tax obligations fully.
Average Plum City Tax Bill
$3,027
Average Pierce County Tax Bill
$4,292
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Plum City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54761 | $1,368 | $2,249 | $3,027 | $4,024 | $5,289 |
Source: Ownwell