Montello, Wisconsin Property Taxes
The median property tax rate in Montello, WI is 1.26%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $166,865 in Montello, the typical annual property tax bill amounts to $2,043, falling below the national median of $2,690. Property taxes in Montello are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Montello'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 Montello 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
Montello, 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 Montello Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Montello with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montello to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more granular insights, you can find localized information by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Montello, Wisconsin
Property taxes in Montello, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montello is 1.26%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Montello set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montello 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 Montello's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53949 has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these areas compare with Montello provides valuable insights into the varying tax landscape across Green Lake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montello Tax Rate
1.26%
Average Green Lake County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | 1.19% | 1.24% | 1.26% | 1.27% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Montello, Wisconsin
In Montello, 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 Green Lake 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 Montello, 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, the median home price in Montello is $166,865, with a tax bill in the 25th percentile at $1,791 and in the 75th percentile at $2,371. 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 Montello helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montello Assessed Value
$166,865
Average Green Lake County Assessed Value
$141,945
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | $89,676 | $143,767 | $166,865 | $217,057 | $265,671 |
Source: Ownwell
Property Tax Bills Across Montello, Wisconsin
In Montello, WI, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $166,865, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Montello, the tax bill at the 25th percentile is $1,791, while at the 75th percentile, it reaches $2,371. The top 10% of tax bills can be as high as $3,326. These property taxes fund essential local services, including schools, infrastructure, and emergency services, making them a crucial part of community development. Homeowners should be aware of these factors to understand their tax obligations better and plan accordingly.
Average Montello Tax Bill
$2,043
Average Green Lake County Tax Bill
$2,317
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | $1,387 | $1,791 | $2,043 | $2,371 | $3,326 |
Source: Ownwell