Solon Springs, Wisconsin Property Taxes
The median property tax rate in Solon Springs, WI is 0.97%, slightly below the national median of 0.99% and significantly lower than the Wisconsin state median of 1.58%. With the median home value in Solon Springs at $185,500, the typical annual property tax bill is $1,904, which is below the national median of $2,690. Property taxes in Solon Springs are calculated based on the tax assessed value, often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Solon Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Solon Springs 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
Solon Springs, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,799
Ownwell’s Solon Springs Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in Solon Springs using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Solon Springs 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 Solon Springs, Wisconsin
Property taxes in Solon Springs, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Solon Springs is 0.97%, slightly lower than the U.S. national median of 0.99%. Local government entities within Solon Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Solon Springs 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 Solon Springs' effective property tax rate to other areas in Douglas County and the national median. For comparison, the zip code 54873 has both the highest and lowest median property tax rate in the area at 0.97%. Understanding how these areas compare with Solon Springs provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Solon Springs Tax Rate
0.97%
Average Douglas County Tax Rate
1.25%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Solon Springs, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | 0.78% | 0.91% | 0.97% | 1.17% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Solon Springs, Wisconsin
In Solon Springs, 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 Douglas 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 Solon Springs, 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 Solon Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 54873, with a median tax bill of $1904.
Property Tax Assessment Values Across Solon Springs, Wisconsin
Source: Ownwell
$90,400
$210,975
$331,550
Average Solon Springs Assessed Value
$185,500
Average Douglas County Assessed Value
$170,250
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Solon Springs, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | $96,200 | $135,350 | $185,500 | $249,350 | $329,600 |
Source: Ownwell
Property Tax Bills Across Solon Springs, Wisconsin
In Solon Springs, WI, property tax bills are calculated based on the assessed value of your home and the local tax rate set by Douglas County. The median home price in Solon Springs is $185,500, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as local government budget requirements, school district funding, and public service needs influence the tax rate. Homeowners in Solon Springs can expect their tax bills to vary. For instance, the tax bill at the 25th percentile is around $1,372, while at the 75th percentile, it rises to approximately $2,548. Those in the 90th percentile may see tax bills as high as $3,578. Comparing these figures to the national median property tax rate of 0.99%, Solon Springs presents a range of tax obligations that can significantly impact household budgets. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Solon Springs Tax Bill
$1,904
Average Douglas County Tax Bill
$2,072
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Solon Springs, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | $870 | $1,372 | $1,904 | $2,548 | $3,578 |
Source: Ownwell