Manitowoc, Wisconsin Property Taxes
The median property tax rate in Manitowoc, WI is 1.52%, which is considerably higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With a median home value of $142,900 in Manitowoc, the typical annual property tax bill reaches $2,109, surpassing the national median of $2,690. Property taxes in Manitowoc are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Manitowoc'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 Manitowoc 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
Manitowoc, 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 MANITOWOC Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MANITOWOC with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MANITOWOC 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 Manitowoc, Wisconsin
Property taxes in Manitowoc, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manitowoc is 1.52%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Manitowoc set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manitowoc 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 Manitowoc's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54220 zip code has the highest median property tax rate of 1.52%, while the 54221 zip code has the lowest median tax rate of 1.06%. Understanding how these cities compare with Manitowoc provides valuable insights into the varying tax landscape across Manitowoc County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manitowoc Tax Rate
1.52%
Average Manitowoc County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manitowoc, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54220 | 1.11% | 1.45% | 1.52% | 1.59% | 1.62% |
| 54221 | 1.03% | 1.04% | 1.06% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Manitowoc, Wisconsin
In Manitowoc, 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 local assessment authority 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 Manitowoc, 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 example, the zip code 54220 has the highest median tax bill at $2,110, while the zip code 54221 has the lowest median tax bill at $1,289. 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 Manitowoc helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Manitowoc Assessed Value
$142,900
Average Manitowoc County Assessed Value
$151,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manitowoc, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54220 | $83,700 | $107,900 | $142,900 | $209,200 | $302,611 |
| 54221 | $72,330 | $91,706 | $123,998 | $156,290 | $175,666 |
Source: Ownwell
Property Tax Bills Across Manitowoc, Wisconsin
In Manitowoc, WI, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in the city is $142,900, and the tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including the property's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Homeowners in Manitowoc can expect varying tax bills depending on the value of their property. For instance, those at the 25th percentile might pay around $1,604 annually, while those at the 75th percentile could see bills closer to $2,984. At the 90th percentile, tax bills can reach up to $4,314. The highest median tax bill in the city is $2,110 in the 54220 zip code, while the lowest is $1,289 in the 54221 zip code. These property taxes significantly impact homeowners, influencing their annual budgets and long-term financial planning.
Average Manitowoc Tax Bill
$2,109
Average Manitowoc County Tax Bill
$2,169
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Manitowoc, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54220 | $1,241 | $1,604 | $2,110 | $2,984 | $4,314 |
| 54221 | $786 | $975 | $1,289 | $1,603 | $1,792 |
Source: Ownwell