Bancroft, Wisconsin Property Taxes
The median property tax rate in Bancroft, WI is 1.27%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Bancroft at $104,200, the typical annual property tax bill reaches $1,366, falling below the national median of $2,690. Property taxes in Bancroft are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bancroft'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 Bancroft or another part of Adams County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bancroft, 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 Bancroft Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bancroft with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bancroft 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 Bancroft, Wisconsin
Property taxes in Bancroft, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bancroft is 1.27%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Bancroft set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bancroft 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 Bancroft's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54921 zip code has the highest median property tax rate of 1.27%, while the 54921 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Bancroft provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bancroft Tax Rate
1.27%
Average Adams County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bancroft, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54921 | 1.23% | 1.24% | 1.27% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Bancroft, Wisconsin
In Bancroft, 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 local 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 Bancroft, 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 Bancroft helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Adams County is $1,366 in the 54921 zip code, which is also the lowest median tax bill.
Average Bancroft Assessed Value
$104,200
Average Adams County Assessed Value
$106,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bancroft, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54921 | $46,680 | $53,400 | $104,200 | $115,100 | $149,000 |
Source: Ownwell
Property Tax Bills Across Bancroft, Wisconsin
In Bancroft, Adams 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 Bancroft is $104,200. Property taxes are determined by multiplying the assessed value by the local tax rate, which is compared to the national median property tax rate of 0.99%. For homeowners, the tax bill can vary significantly. For instance, those in the 25th percentile can expect a tax bill around $677, while those in the 75th percentile might see a bill closer to $1,513. The highest tax bills, in the 90th percentile, can reach up to $1,861. These figures underscore the variability in property tax obligations, influenced by factors such as property value and local tax rates. Homeowners in Bancroft should be aware of these factors as they significantly impact annual expenses and overall affordability of owning property in the area.
Average Bancroft Tax Bill
$1,366
Average Adams County Tax Bill
$1,401
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Bancroft, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54921 | $586 | $677 | $1,366 | $1,513 | $1,861 |
Source: Ownwell