Marinette, Wisconsin Property Taxes
The median property tax rate in Marinette, WI is 1.79%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Marinette at $84,900, the typical annual property tax bill reaches $1,555, exceeding the national median of $2,690. Property taxes in Marinette 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 Marinette'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 Marinette 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
Marinette, 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 Marinette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marinette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marinette 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 Marinette, Wisconsin
Property taxes in Marinette, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marinette is 1.79%, significantly higher than the U.S. national median of 0.99%. Local government entities within Marinette set these rates annually, and they can vary across different neighborhoods. Each year, Marinette 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 Marinette's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54143 zip code has the highest median property tax rate of 1.79%, while the same zip code also represents the lowest median tax rate of 1.79%. Understanding how these cities compare with Marinette 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 Marinette Tax Rate
1.79%
Average Marinette County Tax Rate
1.37%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marinette, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54143 | 1.26% | 1.41% | 1.79% | 2.00% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Marinette, Wisconsin
In Marinette, 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 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 Marinette, 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 Marinette is $84,900, with tax bills ranging from $1,117 at the 25th percentile to $3,165 at the 90th percentile. The zip code 54143 has the highest and lowest median tax bill at $1,555. Being aware of these valuation processes in Marinette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marinette Assessed Value
$84,900
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 Marinette, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54143 | $40,400 | $60,100 | $84,900 | $131,475 | $192,140 |
Source: Ownwell
Property Tax Bills Across Marinette, Wisconsin
Property tax bills in Marinette, WI, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any improvements made. For instance, the median home price in Marinette is $84,900, with tax bills ranging from $1,117 at the 25th percentile to $3,165 at the 90th percentile. The highest median tax bill in the area is $1,555 in ZIP code 54143, which is above the national median property tax rate of 0.99%. These property taxes fund essential community services such as schools, public safety, and infrastructure. Consequently, homeowners in Marinette may experience variations in their tax bills based on changes in property values and local government budgets.
Average Marinette Tax Bill
$1,555
Average Marinette County Tax Bill
$1,289
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Marinette, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54143 | $772 | $1,117 | $1,555 | $2,208 | $3,165 |
Source: Ownwell