Marshfield, Wisconsin Property Taxes
The median property tax rate in Marshfield, WI is 1.82%, significantly higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Marshfield at $169,300, the typical annual property tax bill reaches $2,969, surpassing the national median of $2,690. Property taxes in Marshfield are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marshfield'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 Marshfield 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
Marshfield, 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 Marshfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshfield 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 Marshfield, Wisconsin
Property taxes in Marshfield, Wisconsin, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshfield is 1.82%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Marshfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshfield 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 Marshfield's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54449 zip code has both the highest and lowest median property tax rate of 1.82%. Understanding how these areas compare with Marshfield provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshfield Tax Rate
1.82%
Average Wood County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54449 | 1.33% | 1.70% | 1.82% | 1.89% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Marshfield, Wisconsin
In Marshfield, 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 Wood 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 Marshfield, 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 Marshfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marshfield is $169,300, with tax bills ranging from $2,129 at the 25th percentile to $5,308 at the 90th percentile. The highest and lowest median tax bills, both at $2,969, are found in the 54449 zip code.
Average Marshfield Assessed Value
$169,300
Average Wood County Assessed Value
$143,800
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54449 | $96,200 | $123,900 | $169,300 | $225,550 | $306,860 |
Source: Ownwell
Property Tax Bills Across Marshfield, Wisconsin
In Marshfield, located in Wood County, WI, property tax bills are calculated by considering the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. This value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Marshfield, the tax bill can vary significantly. For example, the 25th percentile tax bill is $2,129, while the 75th percentile reaches $3,927, and the 90th percentile goes up to $5,308. The median home price in Marshfield stands at $169,300, which is relatively affordable compared to national standards. However, the property tax rate in Marshfield can lead to higher-than-average tax bills, impacting homeowners' annual expenses. Understanding these factors is crucial for homeowners as it helps in budgeting and financial planning, ensuring they are prepared for their property tax obligations.
Average Marshfield Tax Bill
$2,969
Average Wood County Tax Bill
$2,331
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshfield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54449 | $1,619 | $2,129 | $2,969 | $3,927 | $5,308 |
Source: Ownwell