Holcombe, Wisconsin Property Taxes
The median property tax rate in Holcombe, WI is 1.21%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $168,800 in Holcombe, the typical annual property tax bill is around $2,075, falling short of the national median of $2,690. Property taxes in Holcombe are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Holcombe's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in significant annual savings. Whether you're in the heart of Holcombe or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holcombe, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,042
Ownwell’s Holcombe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holcombe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holcombe 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 Holcombe, Wisconsin
Property taxes in Holcombe, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Holcombe is 1.21%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Holcombe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holcombe 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 Holcombe's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54745 has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Holcombe provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holcombe Tax Rate
1.21%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holcombe, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54745 | 1.08% | 1.14% | 1.21% | 1.31% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Holcombe, Wisconsin
In Holcombe, 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 Rusk 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 Holcombe, 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 Holcombe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 54745, with a median tax bill of $2,075.
Average Holcombe Assessed Value
$168,800
Average Rusk County Assessed Value
$102,350
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holcombe, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54745 | $44,690 | $103,675 | $168,800 | $261,875 | $395,330 |
Source: Ownwell
Property Tax Bills Across Holcombe, Wisconsin
In Holcombe, located in Rusk County, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including property size, location, and market conditions. Homeowners in Holcombe typically face a median property tax bill of $2,075, which is significantly higher than the national median property tax rate of 0.99%. For instance, homes in the 25th percentile have tax bills around $1,193, while those in the 75th percentile can see bills up to $3,283. The highest tax bills, in the 90th percentile, can reach $4,976. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Consequently, understanding how property taxes are calculated helps homeowners manage their finances and anticipate yearly expenses.
Average Holcombe Tax Bill
$2,075
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Holcombe, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54745 | $515 | $1,193 | $2,075 | $3,283 | $4,976 |
Source: Ownwell