Tripoli, Wisconsin Property Taxes
The median property tax rate in Tripoli, WI is 1.34%, 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 Tripoli at $68,600, the typical annual property tax bill reaches $922, falling below the national median of $2,690. Property taxes in Tripoli are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tripoli'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 Tripoli 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
Tripoli, 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 Tripoli Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tripoli with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tripoli 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 Tripoli, Wisconsin
Property taxes in Tripoli, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tripoli is 1.34%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Tripoli set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tripoli 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 Tripoli's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54564 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Tripoli 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 Tripoli Tax Rate
1.34%
Average Price County Tax Rate
1.67%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | 1.28% | 1.30% | 1.34% | 1.45% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Tripoli, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tripoli, 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 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 Tripoli, 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. The median home price in Tripoli is $68,600, with annual tax bills ranging from $546 at the 25th percentile to $1,624 at the 90th percentile. Notably, the highest and lowest median tax bills are both $922, found in the 54564 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tripoli Assessed Value
$68,600
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 Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | $24,520 | $41,050 | $68,600 | $92,250 | $106,440 |
Source: Ownwell
Property Tax Bills Across Tripoli, Wisconsin
In Tripoli, WI, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Tripoli can expect their property tax bills to vary significantly depending on their home's value and the specific tax rate set by Price County. For instance, the median home price in Tripoli is $68,600. The property tax bill for homes in the 25th percentile is around $546, while those in the 75th percentile pay approximately $1,361. At the 90th percentile, tax bills can be as high as $1,624. These figures illustrate the range of property tax obligations homeowners might face. Compared to the national median property tax rate of 0.99%, Tripoli's rates reflect the local economic conditions and funding requirements for public services. Understanding these factors helps homeowners anticipate their annual property tax responsibilities and plan their finances accordingly.
Average Tripoli Tax Bill
$922
Average Price County Tax Bill
$1,546
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | $321 | $546 | $922 | $1,361 | $1,624 |
Source: Ownwell