Fifield, Wisconsin Property Taxes
The median property tax rate in Fifield, WI is 1.75%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Fifield, the typical annual property tax bill reaches $1,609, which is below the national median of $2,690. Property taxes in Fifield 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 Fifield'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 Fifield 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
Fifield, 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 Fifield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fifield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fifield 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 Fifield, Wisconsin
Property taxes in Fifield, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fifield is 1.75%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Fifield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fifield 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 Fifield's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54524 zip code has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these areas compare with Fifield provides valuable insights into the varying tax landscape across Price County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fifield Tax Rate
1.75%
Average Price County Tax Rate
1.67%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fifield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54524 | 1.18% | 1.56% | 1.75% | 1.97% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Fifield, Wisconsin
In Fifield, 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 Price 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 Fifield, 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 Fifield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Fifield is $1,609 in zip code 54524, while the lowest median tax bill is also $1,609 in the same zip code.
Average Fifield Assessed Value
$91,100
Average Price County Assessed Value
$88,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fifield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54524 | $24,060 | $48,700 | $91,100 | $144,100 | $209,640 |
Source: Ownwell
Property Tax Bills Across Fifield, Wisconsin
In Fifield, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Price County. The median home price in Fifield is $91,100. Homeowners in the 25th percentile can expect a tax bill around $854, while those in the 75th percentile face a bill closer to $2,582. At the 90th percentile, the tax bill can reach up to $3,481. The national median property tax rate is 0.99%, but local rates can vary, impacting the final amount significantly. Factors considered in determining the tax bill include the assessed value of the property, which reflects its market value, and any applicable exemptions or deductions. These elements combine to influence how much homeowners owe annually. For residents of Fifield, understanding these factors is crucial for financial planning and ensuring they are not overpaying on their property taxes. Comparing local rates to the national median offers insight into how Fifield's property taxes align with broader trends.
Average Fifield Tax Bill
$1,609
Average Price County Tax Bill
$1,546
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Fifield, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54524 | $372 | $854 | $1,609 | $2,582 | $3,481 |
Source: Ownwell