Mishicot, Wisconsin Property Taxes
The median property tax rate in Mishicot, WI is 1.37%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Mishicot at $156,105, the typical annual property tax bill amounts to $2,075, falling below the national median of $2,690. Property taxes in Mishicot are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mishicot'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 Mishicot 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
Mishicot, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$2,139
Ownwell’s Mishicot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mishicot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mishicot 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 Mishicot, Wisconsin
Property taxes in Mishicot, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mishicot is 1.37%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Mishicot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mishicot 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 Mishicot's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54228 zip code has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Mishicot 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 Mishicot Tax Rate
1.37%
Average Manitowoc County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mishicot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54228 | 1.16% | 1.24% | 1.37% | 1.46% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Mishicot, Wisconsin
In Mishicot, 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 Manitowoc 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 Mishicot, 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 Mishicot is $156,105, with tax bills ranging from $1,422 at the 25th percentile to $4,043 at the 90th percentile. Being aware of these valuation processes in Mishicot helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mishicot Assessed Value
$156,105
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 Mishicot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54228 | $50,136 | $109,528 | $156,105 | $228,615 | $311,251 |
Source: Ownwell
Property Tax Bills Across Mishicot, Wisconsin
In Mishicot, located in Manitowoc County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the estimated market value of the property. Homeowners in Mishicot can expect a range of property tax bills. For instance, the median home price in the area is $156,105, and tax bills can vary significantly. The 25th percentile tax bill is $1,422, while the 75th percentile tax bill is $3,033, with the 90th percentile reaching up to $4,043. These figures indicate that property taxes can have a substantial impact on homeowners, influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Mishicot’s tax rates can vary widely, affecting affordability and financial planning for residents. Understanding these factors is crucial for homeowners to manage their expenses effectively and anticipate their annual property tax obligations.
Average Mishicot Tax Bill
$2,075
Average Manitowoc County Tax Bill
$2,169
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mishicot, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54228 | $743 | $1,422 | $2,075 | $3,033 | $4,043 |
Source: Ownwell