Tony, Wisconsin Property Taxes
The median property tax rate in Tony, WI is 1.06%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $145,700 in Tony, the typical annual property tax bill is $1,510, which is below the national median of $2,690. Property taxes in Tony are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Tony'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 Tony 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
Tony, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,544
Ownwell’s TONY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TONY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TONY 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 Tony, Wisconsin
Property taxes in Tony, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tony is 1.06%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Tony set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tony 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 Tony's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54563 zip code has the highest median property tax rate of 1.06%, while the 54563 zip code also has the lowest median tax rate of 1.06%. Understanding how these cities compare with Tony provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tony Tax Rate
1.06%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tony, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54563 | 0.90% | 0.99% | 1.06% | 1.09% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Tony, Wisconsin
In Tony, 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 Rusk 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 Tony, 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. For instance, Tony has a median home price of $145,700, with tax bills ranging from $869 at the 25th percentile to $3,349 at the 90th percentile. 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 Tony helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tony Assessed Value
$145,700
Average Rusk County Assessed Value
$102,350
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tony, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54563 | $45,460 | $81,900 | $145,700 | $228,000 | $307,400 |
Source: Ownwell
Property Tax Bills Across Tony, Wisconsin
In TONY, located in Rusk County, WI, property tax bills are influenced by several key factors. Tax bills are primarily determined by the assessed value of a property, which is then multiplied by the local tax rate. The median home price in TONY stands at $145,700. Homeowners can expect their tax bills to vary, with the 25th percentile tax bill at $869, and the 75th percentile reaching $2,419. At the higher end, the 90th percentile tax bill is $3,349. These figures reflect how property taxes can significantly impact homeowners' finances, varying widely based on property value and local tax rates. Compared to the national median property tax rate of 0.99%, TONY's tax rates can result in diverse financial obligations for homeowners. Property taxes fund essential community services such as schools, public safety, and infrastructure, making it crucial for homeowners to understand how their tax bills are calculated and the factors that influence them. This awareness helps homeowners better manage their financial planning and anticipate annual tax obligations.
Average Tony Tax Bill
$1,510
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Tony, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54563 | $448 | $869 | $1,510 | $2,419 | $3,349 |
Source: Ownwell