Milladore, Wisconsin Property Taxes
The median property tax rate in Milladore, WI is 1.28%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Milladore at $134,400, the typical annual property tax bill reaches $1,678, falling below the national median of $2,690. Property taxes in Milladore are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Milladore'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 Milladore 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
Milladore, 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 Milladore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milladore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milladore 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 Milladore, Wisconsin
Property taxes in Milladore, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milladore is 1.28%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Milladore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milladore 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. For comparison, the 54454 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Milladore provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milladore Tax Rate
1.28%
Average Wood County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milladore, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54454 | 1.11% | 1.20% | 1.28% | 1.35% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Milladore, Wisconsin
In Milladore, 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 Wood 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 Milladore, 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 Milladore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area, both at $1,678, are found in the 54454 zip code.
Average Milladore Assessed Value
$134,400
Average Wood County Assessed Value
$143,800
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milladore, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54454 | $47,800 | $87,650 | $134,400 | $180,450 | $234,300 |
Source: Ownwell
Property Tax Bills Across Milladore, Wisconsin
Property tax bills in Milladore, located in Wood County, WI, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local tax assessor and reflects the market value of the property. This value is then multiplied by the tax rate set by local government entities, which fund public services such as schools, infrastructure, and emergency services. In Milladore, the median home price is $134,400, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,085, while at the 75th percentile, it reaches $2,374. At the 90th percentile, homeowners might see a tax bill as high as $3,127. The median property tax bill in the area stands at $1,678. Comparatively, the national median property tax rate is 0.99%. These property taxes can significantly impact homeowners by influencing their monthly mortgage payments and overall housing affordability. Understanding how these taxes are calculated helps homeowners plan and manage their finances more effectively.
Average Milladore Tax Bill
$1,678
Average Wood County Tax Bill
$2,331
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Milladore, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54454 | $550 | $1,085 | $1,678 | $2,374 | $3,127 |
Source: Ownwell