Elk Mound, Wisconsin Property Taxes
The median property tax rate in Elk Mound, WI is 1.30%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Elk Mound at $234,300, the typical annual property tax bill reaches $3,130, exceeding the national median of $2,690. Property taxes in Elk Mound are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Elk Mound'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 Elk Mound 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
Elk Mound, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$3,046
$2,827
Ownwell’s Elk Mound Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elk Mound with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elk Mound 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 Elk Mound, Wisconsin
Property taxes in Elk Mound, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elk Mound is 1.30%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Elk Mound set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elk Mound 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 Elk Mound's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54739 zip code has both the highest and lowest median property tax rate of 1.30%. Understanding how these areas compare with Elk Mound provides valuable insights into the varying tax landscape across Dunn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elk Mound Tax Rate
1.30%
Average Dunn County Tax Rate
1.31%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elk Mound, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54739 | 1.20% | 1.25% | 1.30% | 1.34% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Elk Mound, Wisconsin
In ELK MOUND, 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 Dunn 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 ELK MOUND, 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 ELK MOUND 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 54739, both reporting $3,130.
Average Elk Mound Assessed Value
$234,300
Average Dunn County Assessed Value
$211,100
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elk Mound, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54739 | $134,020 | $175,500 | $234,300 | $305,800 | $395,200 |
Source: Ownwell
Property Tax Bills Across Elk Mound, Wisconsin
In Elk Mound, Dunn County, WI, property tax bills are calculated based on the assessed value of a home. The local government determines this value, which is then multiplied by the property tax rate to calculate the annual tax bill. For homeowners in Elk Mound, the median home price stands at $234,300. The property tax rate in this area, when compared to the national median of 0.99%, results in varying tax bills. Homeowners in the 25th percentile can expect to pay around $2,485 annually, while those in the 75th percentile see bills closer to $4,137. For higher-valued properties, the tax bill can reach up to $5,277 in the 90th percentile. The highest and lowest median tax bills in this region are both $3,130, found in the 54739 zip code. These tax bills significantly impact homeowners by influencing their overall housing costs and budget planning. Understanding these factors is crucial for homeowners to manage their finances effectively.
Average Elk Mound Tax Bill
$3,130
Average Dunn County Tax Bill
$2,914
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Elk Mound, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54739 | $1,746 | $2,485 | $3,130 | $4,137 | $5,277 |
Source: Ownwell