Saxon, Wisconsin Property Taxes
The median property tax rate in Saxon, WI is 1.70%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Saxon at $63,200, the typical annual property tax bill reaches $1,043, exceeding the national median of $2,690. Property taxes in Saxon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saxon'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 Saxon 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
Saxon, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$1,074
Ownwell’s Saxon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saxon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saxon 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 Saxon, Wisconsin
Property taxes in Saxon, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saxon is 1.70%, significantly higher than the U.S. national median of 0.99%. Local government entities within Saxon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saxon 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 Saxon's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54559 zip code has the highest median property tax rate of 1.70%, while it also has the lowest median tax rate of 1.70%. Understanding how these figures compare with Saxon provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saxon Tax Rate
1.70%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saxon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | 1.49% | 1.54% | 1.70% | 1.70% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Saxon, Wisconsin
In Saxon, 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 Iron County Assessor 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 Saxon, 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. Saxon has a median home price of $63,200, with tax bills ranging from $649 at the 25th percentile to $2,494 at the 90th percentile. The zip code with the highest median tax bill is 54559, at $1,043. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Saxon Assessed Value
$63,200
Average Iron County Assessed Value
$97,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saxon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | $23,860 | $39,800 | $63,200 | $104,100 | $146,580 |
Source: Ownwell
Property Tax Bills Across Saxon, Wisconsin
In Saxon, Iron County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Saxon is $63,200, which is relatively modest compared to national averages. The tax rate applied to this assessed value determines the annual property tax bill. For example, the 25th percentile tax bill is $649, while the 75th percentile reaches $1,745, and the 90th percentile can go up to $2,494. These figures indicate a range of tax burdens depending on property values and specific assessments. Factors influencing the tax bill include the property's assessed value, local government budgets, and public service funding requirements. For homeowners, this means that higher property values generally lead to higher tax bills. The highest median tax bill in the area is $1,043, showing a significant variation within the county. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Saxon Tax Bill
$1,043
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Saxon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | $403 | $649 | $1,043 | $1,745 | $2,494 |
Source: Ownwell