Gilmanton, Wisconsin Property Taxes
The median property tax rate in Gilmanton, WI is 1.42%, notably higher than the national median of 0.99% but below the state median of 1.58%. With the median home value in Gilmanton at $144,200, the typical annual property tax bill comes to $2,049, which is still lower than the national median of $2,690. Property taxes in Gilmanton are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Gilmanton'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 Gilmanton 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
Gilmanton, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$2,048
Ownwell’s Gilmanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilmanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilmanton 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 Gilmanton, Wisconsin
Property taxes in Gilmanton, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilmanton is 1.42%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Gilmanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilmanton 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 Gilmanton's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54743 zip code has the highest median property tax rate of 1.42%, while the same 54743 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Gilmanton provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilmanton Tax Rate
1.42%
Average Buffalo County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilmanton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54743 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Gilmanton, Wisconsin
In Gilmanton, 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 Buffalo 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 Gilmanton, 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. For instance, the median home price in Gilmanton is $144,200, with the median tax bill at $2,049. The highest and lowest median tax bills are also $2,049, both found in the 54743 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gilmanton Assessed Value
$144,200
Average Buffalo County Assessed Value
$142,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilmanton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54743 | $144,200 | $144,200 | $144,200 | $144,200 | $144,200 |
Source: Ownwell
Property Tax Bills Across Gilmanton, Wisconsin
In Gilmanton, Buffalo County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, the median home price in Gilmanton is $144,200. With a property tax rate of 1.42%, homeowners can expect to pay around $2,049 annually in property taxes. Several factors influence this tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Gilmanton face a property tax rate higher than the national median of 0.99%, which means they pay more in property taxes relative to other parts of the country. This higher tax rate can significantly impact household budgets, making it essential for homeowners to understand their tax obligations and explore potential savings through appeals or exemptions.
Average Gilmanton Tax Bill
$2,049
Average Buffalo County Tax Bill
$2,115
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilmanton, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54743 | $2,049 | $2,049 | $2,049 | $2,049 | $2,049 |
Source: Ownwell