Greenwood, Wisconsin Property Taxes
The median property tax rate in Greenwood, WI is 1.61%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Greenwood at $121,050, the typical annual property tax bill reaches $2,173, which is below the national median of $2,690. Property taxes in Greenwood 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 Greenwood'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 Greenwood 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
Greenwood, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,949
Ownwell’s Greenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenwood 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 Greenwood, Wisconsin
Property taxes in Greenwood, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenwood is 1.61%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Greenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenwood 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 Greenwood's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54437 zip code has the highest median property tax rate of 1.61%, while the 54437 zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Greenwood provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenwood Tax Rate
1.61%
Average Clark County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54437 | 1.29% | 1.44% | 1.61% | 2.13% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Greenwood, Wisconsin
In Greenwood, 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 Greenwood, 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 Greenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Greenwood is $2,173 in the 54437 zip code, which also has the lowest median tax bill, illustrating the uniformity in property tax assessments in the area.
Average Greenwood Assessed Value
$121,050
Average Clark County Assessed Value
$124,600
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54437 | $50,180 | $80,275 | $121,050 | $187,250 | $262,760 |
Source: Ownwell
Property Tax Bills Across Greenwood, Wisconsin
In Greenwood, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or modifications made to the property. For homeowners in Greenwood, the median home price is $121,050. Property tax bills can vary significantly; the 25th percentile tax bill is $1,384, while the 75th percentile reaches $3,179, and the 90th percentile goes up to $4,432. These figures illustrate the range of property tax burdens residents might face. Compared to the national median property tax rate of 0.99%, Greenwood's tax rates can represent a significant expense for homeowners, impacting their overall cost of living. Understanding these factors helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Greenwood Tax Bill
$2,173
Average Clark County Tax Bill
$2,005
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenwood, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54437 | $790 | $1,384 | $2,173 | $3,179 | $4,432 |
Source: Ownwell