Pepin, Wisconsin Property Taxes
The median property tax rate in Pepin, WI is 2.26%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Pepin, the typical annual property tax bill reaches $3,613, exceeding the national median of $2,690. Property taxes in Pepin 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 Pepin'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 Pepin 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
Pepin, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$3,797
Ownwell’s Pepin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pepin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pepin 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 Pepin, Wisconsin
Property taxes in Pepin, WI, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pepin is 2.26%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Pepin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pepin 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 Pepin's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54759 zip code has both the highest and lowest median property tax rate of 2.26%. Understanding how these cities compare with Pepin provides valuable insights into the varying tax landscape across Pepin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pepin Tax Rate
2.26%
Average Pepin County Tax Rate
1.98%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pepin, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54759 | 1.99% | 2.00% | 2.26% | 2.26% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Pepin, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pepin, WI. 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 Pepin 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 Pepin, 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. The highest and lowest median tax bills in Pepin are both $3,613, found in zip code 54759. Knowing these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pepin Assessed Value
$168,000
Average Pepin County Assessed Value
$159,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pepin, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54759 | $64,380 | $113,100 | $168,000 | $240,000 | $343,780 |
Source: Ownwell
Property Tax Bills Across Pepin, Wisconsin
In Pepin, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. Local authorities assess the value of properties to determine their market value, which forms the basis for the tax bill. The assessed value is then multiplied by the local tax rate to calculate the annual property tax. Homeowners in Pepin experience varying tax bills, with the 25th percentile paying around $2,467 and the 75th percentile facing bills up to $5,144. The 90th percentile can see tax bills as high as $7,027. The median home price in Pepin is $168,000, which provides a reference point for these figures. Compared to the national median property tax rate of 0.99%, Pepin's rates can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly.
Average Pepin Tax Bill
$3,613
Average Pepin County Tax Bill
$2,950
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Pepin, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54759 | $1,371 | $2,467 | $3,613 | $5,144 | $7,027 |
Source: Ownwell