Goodman, Wisconsin Property Taxes
The median property tax rate in Goodman, WI is 1.99%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $51,900 in Goodman, the typical annual property tax bill reaches $1,026, exceeding the national median of $2,690. Property taxes in Goodman 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 Goodman'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 Goodman 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
Goodman, 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 Goodman Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with a simple way to estimate their annual property taxes in Goodman. By inputting your property's estimated assessed value, the calculator uses the median tax rate specific to Goodman to give you an accurate property tax bill estimate. This valuable tool offers clarity on potential tax liabilities and helps you plan accordingly. For those interested in more detailed insights, you can explore neighborhood-level trends by scrolling down for localized information. Your property's assessed value, determined by the county, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Goodman, Wisconsin
Property taxes in Goodman, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodman is 1.99%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Goodman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodman 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 Goodman's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54125 zip code has the highest median property tax rate of 1.99%, while the same zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Goodman provides valuable insights into the varying tax landscape across Marinette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goodman Tax Rate
1.99%
Average Marinette County Tax Rate
1.37%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54125 | 1.09% | 1.54% | 1.99% | 2.23% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Goodman, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Goodman, Wisconsin. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local 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 property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Goodman, 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 median home price in Goodman is $51,900, with tax bills ranging from $573 at the 25th percentile to $2,578 at the 90th percentile. The highest and lowest median tax bills in the region are both found in the 54125 zip code, each amounting to $1,026. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Goodman Assessed Value
$51,900
Average Marinette County Assessed Value
$79,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goodman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54125 | $17,420 | $32,200 | $51,900 | $83,700 | $117,240 |
Source: Ownwell
Property Tax Bills Across Goodman, Wisconsin
In Goodman, located in Marinette 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 and reflects the market value of the property. For instance, with a median home price of $51,900, the tax bill can vary significantly. At the 25th percentile, homeowners might see a tax bill around $573, whereas at the 75th percentile, it could rise to approximately $1,762, and at the 90th percentile, it may reach up to $2,578. These tax bills are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the tax burden in Goodman can be relatively high or low depending on these variables. This variability in property tax bills can impact homeowners' financial planning, making it essential to understand how their specific circumstances affect their annual tax obligations.
Average Goodman Tax Bill
$1,026
Average Marinette County Tax Bill
$1,289
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54125 | $356 | $573 | $1,026 | $1,762 | $2,578 |
Source: Ownwell