Gilman, Wisconsin Property Taxes
The median property tax rate in Gilman, WI is 1.45%, which is significantly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $88,900 in Gilman, the typical annual property tax bill amounts to $1,348, falling below the national median of $2,690. Property taxes in Gilman are calculated based on the assessed value, which usually is less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Gaining a thorough understanding of Gilman's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gilman or another part of the city, being knowledgeable about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilman, 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 Gilman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilman 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 Gilman, Wisconsin
Property taxes in Gilman, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilman is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gilman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilman 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 Gilman's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54433 zip code has the highest median property tax rate of 1.45%, while the same zip code has the lowest median tax rate of 1.45%. Understanding how these areas compare with Gilman provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilman Tax Rate
1.45%
Average Taylor County Tax Rate
1.43%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | 1.10% | 1.30% | 1.45% | 1.58% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Gilman, Wisconsin
In Gilman, 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 Taylor County Assessor 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 Gilman, 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 Gilman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54433 has the highest median tax bill of $1,348, which is significant when compared to the national median property tax rate of 0.99%.
Average Gilman Assessed Value
$88,900
Average Taylor County Assessed Value
$122,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | $28,320 | $55,650 | $88,900 | $143,250 | $202,190 |
Source: Ownwell
Property Tax Bills Across Gilman, Wisconsin
In Gilman, located in Taylor County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Gilman is $88,900, which serves as a baseline for determining the tax bill. The assessed value is multiplied by the local property tax rate to arrive at the annual tax bill. For example, the 25th percentile tax bill is $760, while the 75th percentile tax bill reaches $2,258, and the 90th percentile tax bill climbs to $3,203. These figures indicate variability based on property value and assessment accuracy. Factors influencing the tax bill include property size, improvements, and market conditions. Compared to the national median property tax rate of 0.99%, Gilman's tax rates can significantly impact homeowners, especially those with properties at the higher end of the value spectrum. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Gilman Tax Bill
$1,348
Average Taylor County Tax Bill
$1,816
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | $357 | $760 | $1,348 | $2,258 | $3,203 |
Source: Ownwell