Prentice, Wisconsin Property Taxes
The median property tax rate in Prentice, WI is 1.68%, notably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $71,850 in Prentice, the typical annual property tax bill amounts to $1,175, which is below the national median of $2,690. Property taxes in Prentice are determined based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Prentice's property tax system and exploring available exemptions can lead to significant annual savings. Whether you're located in the heart of Prentice or another part of the city, familiarizing yourself with the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prentice, 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 Prentice Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prentice with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prentice 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 Prentice, Wisconsin
Property taxes in Prentice, Wisconsin, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Prentice is 1.68%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Prentice set these rates annually, and they can vary across different neighborhoods. Each year, Prentice 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 Prentice's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54556 zip code has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these areas compare with Prentice provides valuable insights into the varying tax landscape across Price County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prentice Tax Rate
1.68%
Average Price County Tax Rate
1.67%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prentice, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54556 | 0.90% | 1.44% | 1.68% | 1.82% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Prentice, Wisconsin
In Prentice, Wisconsin, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents 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 Price County Assessor for tax purposes. Conversely, 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 Prentice, 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 Prentice helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Prentice are both $1,175, found in zip code 54556.
Average Prentice Assessed Value
$71,850
Average Price County Assessed Value
$88,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prentice, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54556 | $25,320 | $46,850 | $71,850 | $111,250 | $171,630 |
Source: Ownwell
Property Tax Bills Across Prentice, Wisconsin
In Prentice, located in Price County, WI, 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's office, which evaluates the market value of the property. This value is then multiplied by the tax rate set by local taxing authorities to determine the final tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Prentice can expect their tax bills to vary significantly, with the 25th percentile paying around $699 and the 75th percentile paying up to $1798. At the 90th percentile, tax bills can reach $2697. Compared to the national median property tax rate of 0.99%, Prentice's rates reflect a localized approach to property taxation, impacting homeowners differently based on their property's assessed value. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances more effectively.
Average Prentice Tax Bill
$1,175
Average Price County Tax Bill
$1,546
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Prentice, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54556 | $371 | $699 | $1,175 | $1,798 | $2,697 |
Source: Ownwell