Merrillan, Wisconsin Property Taxes
The median property tax rate in Merrillan, WI is 1.30%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $186,900, the typical annual property tax bill in Merrillan is around $2,432, which is below the national median of $2,690. Property taxes in Merrillan are based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Merrillan'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 Merrillan 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
Merrillan, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,430
Ownwell’s Merrillan Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Merrillan. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Merrillan to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property's assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Merrillan, Wisconsin
Property taxes in Merrillan, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merrillan is 1.30%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Merrillan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merrillan 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 Merrillan's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54754 in Clark County has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these areas compare with Merrillan 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 Merrillan Tax Rate
1.30%
Average Clark County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merrillan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54754 | 1.22% | 1.28% | 1.30% | 1.37% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Merrillan, Wisconsin
In Merrillan, 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 Clark 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 Merrillan, 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 Merrillan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $2,432 in the 54754 zip code, while the lowest median tax bill is also $2,432 in the same zip code.
Average Merrillan Assessed Value
$186,900
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 Merrillan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54754 | $70,760 | $112,700 | $186,900 | $365,700 | $566,520 |
Source: Ownwell
Property Tax Bills Across Merrillan, Wisconsin
In Merrillan, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the property tax rate set by the local government to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions play a crucial role in this calculation. For homeowners in Merrillan, the median home price is $186,900. Property tax bills can vary widely, with the 25th percentile tax bill at $1,531 and the 75th percentile at $4,932. Some homeowners might see tax bills as high as $7,337, which is at the 90th percentile. Compared to the national median property tax rate of 0.99%, these figures highlight the range of tax obligations homeowners might face. Understanding these factors helps homeowners budget effectively and anticipate their financial responsibilities.
Average Merrillan Tax Bill
$2,432
Average Clark County Tax Bill
$2,005
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Merrillan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54754 | $888 | $1,531 | $2,432 | $4,932 | $7,337 |
Source: Ownwell