Brokaw, Wisconsin Property Taxes
The median property tax rate in Brokaw, WI is 1.72%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Brokaw, the typical annual property tax bill reaches $1,144, exceeding the national median of $2,690. Property taxes in Brokaw 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 Brokaw'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 Brokaw 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
Brokaw, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.72%
Estimate Property Tax Bill
$1,267
Ownwell’s Brokaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brokaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brokaw 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 Brokaw, Wisconsin
Property taxes in Brokaw, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brokaw is 1.72%, significantly higher than the U.S. national median of 0.99%. Local government entities within Brokaw set these rates annually, and they can vary across different neighborhoods. Each year, Brokaw 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 Brokaw's effective property tax rate to other areas in Marathon County and the national median. For comparison, the zip code 54417 has the highest median property tax rate of 1.72%, while the same zip code also has the lowest median tax rate of 1.72%. Understanding how these areas compare with Brokaw provides valuable insights into the varying tax landscape across Marathon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brokaw Tax Rate
1.72%
Average Marathon County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brokaw, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54417 | 1.56% | 1.59% | 1.72% | 1.76% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Brokaw, Wisconsin
In Brokaw, 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 Marathon 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 Brokaw, 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 Brokaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1144, found in the 54417 zip code.
Average Brokaw Assessed Value
$73,640
Average Marathon County Assessed Value
$164,200
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brokaw, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54417 | $7,548 | $15,049 | $73,640 | $93,228 | $113,607 |
Source: Ownwell
Property Tax Bills Across Brokaw, Wisconsin
In Brokaw, Marathon 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 local assessors and reflects the market value of the property. The tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $73,640, homeowners in Brokaw can expect varying tax bills depending on their property's assessed value and applicable exemptions. Tax bills in Brokaw show significant variation, with the 25th percentile at $265 and the 75th percentile at $1,617. At the higher end, the 90th percentile reaches $1,958. These figures indicate a range of tax obligations that can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Brokaw's tax bills reflect local economic conditions and property values. Homeowners should be aware of these factors as they can significantly influence their annual financial planning and overall cost of homeownership.
Average Brokaw Tax Bill
$1,144
Average Marathon County Tax Bill
$2,706
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Brokaw, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54417 | $133 | $265 | $1,144 | $1,617 | $1,958 |
Source: Ownwell