Gilman, Wisconsin Property Taxes
The median property tax rate in Gilman, WI is 0.87%, which is considerably lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $107,500 in Gilman, the typical annual property tax bill amounts to $938, significantly below the national median of $2,690. Property taxes in Gilman 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 Gilman's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gilman or another part of Chippewa County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gilman, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$935
$868
Ownwell’s Gilman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gilman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gilman 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 Gilman, Wisconsin
Property taxes in Gilman, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gilman is 0.87%, lower than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Gilman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gilman 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 Gilman's effective property tax rate to other areas in Wisconsin and the national median. For comparison, 54433 has the highest median property tax rate of 0.87%, while 54433 also has the lowest median tax rate of 0.87%. Understanding how these areas compare with Gilman provides valuable insights into the varying tax landscape across Chippewa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gilman Tax Rate
0.87%
Average Chippewa County Tax Rate
1.09%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | 0.73% | 0.78% | 0.87% | 0.98% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Gilman, Wisconsin
In Gilman, 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 Chippewa 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 Gilman, 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 Gilman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in the area are both $938 in the 54433 zip code, highlighting the importance of understanding these values to optimize your property tax obligations.
Average Gilman Assessed Value
$107,500
Average Chippewa County Assessed Value
$187,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | $47,300 | $87,300 | $107,500 | $144,500 | $213,600 |
Source: Ownwell
Property Tax Bills Across Gilman, Wisconsin
In Gilman, located in Chippewa County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to compute the annual property tax bill. Various factors influence the assessed value, including the property's market value, location, and any improvements or modifications made to the property. For homeowners in Gilman, the median home price stands at $107,500. Property tax bills can vary significantly, with the 25th percentile at $663 and the 75th percentile at $1,243, while the 90th percentile reaches up to $1,981. Comparatively, the national median property tax rate is 0.99%, which places Gilman within a reasonable range. These property tax bills impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated and the factors involved can help homeowners better manage their finances and anticipate annual expenses.
Average Gilman Tax Bill
$938
Average Chippewa County Tax Bill
$2,187
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Gilman, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54433 | $475 | $663 | $938 | $1,243 | $1,981 |
Source: Ownwell