Spencer, Wisconsin Property Taxes
The median property tax rate in Spencer, WI is 1.49%, which is significantly higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With a median home value of $139,800 in Spencer, the typical annual property tax bill amounts to $2,077, falling short of the national median of $2,690. Property taxes in Spencer are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Spencer'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 Spencer or another part of Clark County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spencer, 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 Spencer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spencer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spencer 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 Spencer, Wisconsin
Property taxes in Spencer, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spencer is 1.49%, notably higher than the U.S. national median of 0.99%. Local government entities within Spencer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spencer 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 Spencer's effective property tax rate to other areas and the national median. For comparison, the zip code 54479 has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these figures compare with Spencer 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 Spencer Tax Rate
1.49%
Average Clark County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spencer, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54479 | 1.19% | 1.37% | 1.49% | 1.56% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Spencer, Wisconsin
In Spencer, 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 Spencer, 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 Spencer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Spencer is $139,800, with tax bills ranging from $1,286 at the 25th percentile to $4,214 at the 90th percentile. The zip code 54479 has the highest and lowest median tax bill, both at $2,077.
Average Spencer Assessed Value
$139,800
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 Spencer, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54479 | $53,240 | $94,700 | $139,800 | $214,700 | $283,340 |
Source: Ownwell
Property Tax Bills Across Spencer, Wisconsin
Property tax bills in Spencer, WI, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of homes in the area. In Spencer, the median home price is $139,800. The local property tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, tax bills in Spencer range significantly, with the 25th percentile at $1,286 and the 90th percentile reaching $4,214. The median tax bill in the area is $2,077, which is higher than the national median property tax rate of 0.99%. Homeowners in Spencer can expect their property taxes to impact their annual housing costs significantly. Higher assessed values and tax rates can lead to substantial tax bills, affecting the overall affordability of homeownership in the area.
Average Spencer Tax Bill
$2,077
Average Clark County Tax Bill
$2,005
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Spencer, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54479 | $584 | $1,286 | $2,077 | $3,259 | $4,214 |
Source: Ownwell