Wisconsin Rapids, Wisconsin Property Taxes
The median property tax rate in Wisconsin Rapids, WI is 1.32%, 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 Wisconsin Rapids at $190,100, the typical annual property tax bill reaches $2,483, which is below the national median of $2,690. Property taxes in Wisconsin Rapids 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 Wisconsin Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wisconsin Rapids 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
Wisconsin Rapids, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,509
Ownwell’s Wisconsin Rapids Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wisconsin Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wisconsin Rapids 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 Wisconsin Rapids, Wisconsin
Property taxes in Wisconsin Rapids, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wisconsin Rapids is 1.32%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Wisconsin Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wisconsin Rapids 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 Wisconsin Rapids' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54494 zip code has the highest median property tax rate of 1.32%, while the 54494 zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Wisconsin Rapids provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wisconsin Rapids Tax Rate
1.32%
Average Portage County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wisconsin Rapids, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54494 | 1.20% | 1.28% | 1.32% | 1.37% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Wisconsin Rapids, Wisconsin
In Wisconsin Rapids, 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 Portage 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 Wisconsin Rapids, 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 Wisconsin Rapids helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2,483 in the 54494 zip code, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Wisconsin Rapids, Wisconsin
Source: Ownwell
$103,500
$214,700
$325,900
Average Wisconsin Rapids Assessed Value
$190,100
Average Portage County Assessed Value
$182,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wisconsin Rapids, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54494 | $26,250 | $109,875 | $190,100 | $273,125 | $373,500 |
Source: Ownwell
Property Tax Bills Across Wisconsin Rapids, Wisconsin
Property tax bills in Wisconsin Rapids, located in Portage County, are determined based on the assessed value of the property and the local tax rate. The median home price in Wisconsin Rapids is $190,100. Property taxes are calculated by multiplying the assessed value by the local tax rate, which varies depending on the specific location within the city. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Wisconsin Rapids can expect their property tax bills to vary. For instance, the 25th percentile tax bill is around $1,389, while the 75th percentile tax bill reaches approximately $3,551. At the higher end, the 90th percentile tax bill can be as much as $4,955. The highest median tax bill in the area is $2,483, found in zip code 54494. These property tax rates are relatively moderate compared to the national median property tax rate of 0.99%, providing some context for homeowners about how their tax obligations compare on a broader scale.
Average Wisconsin Rapids Tax Bill
$2,483
Average Portage County Tax Bill
$2,873
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Wisconsin Rapids, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54494 | $353 | $1,389 | $2,483 | $3,551 | $4,955 |
Source: Ownwell