Ferryville, Wisconsin Property Taxes
The median property tax rate in Ferryville, WI is 1.54%, slightly higher than the national median of 0.99% but just below the Wisconsin state median of 1.58%. With the median home value in Ferryville at $112,300, the typical annual property tax bill amounts to $1,686, which is lower than the national median of $2,690. Property taxes in Ferryville are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Ferryville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Ferryville or another part of the county, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ferryville, 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 Ferryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferryville 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 Ferryville, Wisconsin
Property taxes in Ferryville, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferryville is 1.54%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Ferryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferryville 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 Ferryville's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54628 zip code has the highest median property tax rate of 1.54%, while the same zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Ferryville 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 Ferryville Tax Rate
1.54%
Average Vernon County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ferryville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54628 | 1.33% | 1.46% | 1.54% | 1.64% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Ferryville, Wisconsin
In Ferryville, 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 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 Ferryville, 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 Ferryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ferryville are both $1,686, found in the 54628 zip code.
Average Ferryville Assessed Value
$112,300
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 Ferryville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54628 | $65,060 | $82,500 | $112,300 | $174,600 | $212,240 |
Source: Ownwell
Property Tax Bills Across Ferryville, Wisconsin
In Ferryville, located in Vernon County, WI, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is periodically evaluated by local assessors. For a median home price of $112,300, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. The tax bill typically ranges from the 25th percentile at $1,309 to the 90th percentile at $3,462, demonstrating significant variability based on property characteristics and assessment accuracy. The median tax bill in the area is $1,686, which is relatively higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in market conditions. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners in Ferryville anticipate and manage their property tax obligations effectively.
Average Ferryville Tax Bill
$1,686
Average Vernon County Tax Bill
$2,337
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferryville, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54628 | $976 | $1,309 | $1,686 | $2,663 | $3,462 |
Source: Ownwell