New Franken, Wisconsin Property Taxes
The median property tax rate in New Franken, 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 $262,900 in New Franken, the typical annual property tax bill amounts to $3,113, surpassing the national median of $2,690. Property taxes in New Franken are based on the tax assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Understanding New Franken'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 New Franken or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Franken, 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 New Franken Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Franken with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Franken 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 New Franken, Wisconsin
Property taxes in New Franken, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Franken is 1.22%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within New Franken set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Franken 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 New Franken's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54229 zip code has the highest median property tax rate of 1.22%, while the 54229 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with New Franken provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Franken Tax Rate
1.22%
Average Brown County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Franken, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54229 | 1.07% | 1.08% | 1.22% | 1.24% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across New Franken, Wisconsin
In New Franken, 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 Brown 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 New Franken, 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. For instance, the median home price in New Franken stands at $262,900. The tax bill at the 25th percentile is $2,407, while at the 75th percentile, it is $4,016. Notably, the highest and lowest median tax bills both amount to $3,113 in the 54229 zip code. 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 New Franken helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Franken Assessed Value
$262,900
Average Brown County Assessed Value
$232,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Franken, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54229 | $146,420 | $201,400 | $262,900 | $318,600 | $399,100 |
Source: Ownwell
Property Tax Bills Across New Franken, Wisconsin
In New Franken, Brown County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in New Franken, the median home price is $262,900. The tax bill varies significantly based on the value of the property, with the 25th percentile at $2,407 and the 75th percentile at $4,016. At the 90th percentile, homeowners can expect a tax bill of $4,978. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in New Franken may find their tax bills to be relatively higher, reflecting the local funding needs and property values. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average New Franken Tax Bill
$3,113
Average Brown County Tax Bill
$3,396
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across New Franken, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54229 | $1,718 | $2,407 | $3,113 | $4,016 | $4,978 |
Source: Ownwell