Winchester, Wisconsin Property Taxes
The median property tax rate in Winchester, WI is 1.39%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Winchester, the typical annual property tax bill reaches $2,824, exceeding the national median of $2,690. Property taxes in Winchester 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 Winchester'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 Winchester 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
Winchester, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,829
Ownwell’s Winchester Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Winchester with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Winchester to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed information at the neighborhood level, additional localized data is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Winchester, Wisconsin
Property taxes in Winchester, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winchester is 1.39%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Winchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winchester 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 Winchester's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54557 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Winchester 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 Winchester Tax Rate
1.39%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Winchester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Winchester, Wisconsin
In Winchester, 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 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 Winchester, 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 Winchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Winchester is $2824, found in zip code 54557, while the lowest median tax bill is also $2824 in the same zip code.
Average Winchester Assessed Value
$203,500
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 Winchester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | $181,260 | $189,600 | $203,500 | $236,650 | $256,540 |
Source: Ownwell
Property Tax Bills Across Winchester, Wisconsin
In Winchester, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to compute the tax bill. Factors such as the location, size, and condition of the property play a significant role in determining its assessed value. Homeowners in Winchester face varying tax bills; for instance, the 25th percentile tax bill is around $2,630, while the 75th percentile tax bill reaches approximately $3,283. The highest median tax bill recorded is $2,824 in the 54557 zip code. The property tax rate in Winchester is notably higher than the national median property tax rate of 0.99%, impacting homeowners by increasing their annual financial obligations. These taxes fund essential public services such as schools, infrastructure, and emergency services, making them a crucial component of the local economy. Understanding how these factors influence property tax bills can help homeowners better anticipate their annual expenses.
Average Winchester Tax Bill
$2,824
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Winchester, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | $2,514 | $2,630 | $2,824 | $3,283 | $3,559 |
Source: Ownwell