Elroy, Wisconsin Property Taxes
The median property tax rate in Elroy, WI is 1.22%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $164,800 in Elroy, the typical annual property tax bill amounts to $2,113, still below the national median of $2,690. Property taxes in Elroy are based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Elroy's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're situated in the heart of Elroy or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Elroy, 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 Elroy Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Elroy. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Elroy to provide an accurate estimate of your property tax bill. This valuable insight helps you understand your potential tax liabilities and plan accordingly. For those interested in more granular data, additional neighborhood-level trends are available below. Your property’s assessed value is determined by the county and is used for calculating property taxes, taking into account any applicable exemptions.
Property Tax Rates Across Elroy, Wisconsin
Property taxes in Elroy, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Elroy is 1.22%, which is higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Elroy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elroy 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 Elroy's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53929 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Elroy provides valuable insights into the varying tax landscape across Vernon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elroy Tax Rate
1.22%
Average Vernon County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | 1.06% | 1.17% | 1.22% | 1.27% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Elroy, Wisconsin
In Elroy, Wisconsin, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Vernon 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 Elroy, 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 Elroy 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 53929, with a median tax bill of $2,113.
Average Elroy Assessed Value
$164,800
Average Vernon County Assessed Value
$157,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | $60,800 | $115,100 | $164,800 | $225,200 | $300,260 |
Source: Ownwell
Property Tax Bills Across Elroy, Wisconsin
In Elroy, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Elroy is $164,800, and the property tax rate is influenced by the county's needs and budget. Homeowners in Elroy can expect their tax bills to vary significantly, with the 25th percentile tax bill at $1,442 and the 75th percentile tax bill reaching $2,909. For those in the 90th percentile, the tax bill can be as high as $3,740. Several factors influence these tax bills, including the assessed value of the property, any applicable exemptions, and the specific tax rate set by Vernon County. Compared to the national median property tax rate of 0.99%, Elroy's rates can appear relatively high, reflecting the local government's requirements to fund public services and infrastructure. Homeowners should be aware of these factors as they directly impact their annual financial obligations and the overall affordability of maintaining their property in Elroy.
Average Elroy Tax Bill
$2,113
Average Vernon County Tax Bill
$2,337
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | $689 | $1,442 | $2,113 | $2,909 | $3,740 |
Source: Ownwell