Bangor, Wisconsin Property Taxes
The median property tax rate in Bangor, WI is 1.40%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Bangor at $198,300, the typical annual property tax bill reaches $2,473, slightly below the national median of $2,690. Property taxes in Bangor 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 Bangor'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 Bangor 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
Bangor, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$2,776
Ownwell’s Bangor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bangor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bangor 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 Bangor, Wisconsin
Property taxes in Bangor, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bangor is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bangor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bangor 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 Bangor's effective property tax rate to other areas and the national median. For comparison, the zip code 54614 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these areas compare with Bangor provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bangor Tax Rate
1.40%
Average Monroe County Tax Rate
1.50%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bangor, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54614 | 1.26% | 1.27% | 1.40% | 1.49% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Bangor, Wisconsin
In Bangor, 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 Monroe 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 Bangor, 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 Bangor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2473 in zip code 54614, which is also the lowest median tax bill.
Average Bangor Assessed Value
$198,300
Average Monroe County Assessed Value
$170,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bangor, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54614 | $103,400 | $174,200 | $198,300 | $313,500 | $406,860 |
Source: Ownwell
Property Tax Bills Across Bangor, Wisconsin
In Bangor, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. For homeowners in Monroe County, the median home price stands at $198,300. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Bangor can expect tax bills that vary widely. The 25th percentile tax bill is around $2,439, while the 75th percentile reaches approximately $4,664. For those in the 90th percentile, tax bills can soar to $6,263. These figures indicate that property taxes in Bangor can significantly impact household budgets, particularly for homes with higher assessed values. Comparatively, the national median property tax rate is 0.99%, making Bangor's rates relatively high. This discrepancy underscores the importance of understanding local property tax dynamics and the potential financial implications for homeowners in the area.
Average Bangor Tax Bill
$2,473
Average Monroe County Tax Bill
$2,549
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Bangor, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54614 | $1,404 | $2,439 | $2,473 | $4,664 | $6,263 |
Source: Ownwell