Elk Mound, Wisconsin Property Taxes
The median property tax rate in Elk Mound, 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 Elk Mound at $150,850, the typical annual property tax bill is about $1,503, which is less than the national median of $2,690. Property taxes in Elk Mound are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. 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 Eau Claire County, 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
0.97%
Estimate Property Tax Bill
$1,463
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, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Elk Mound is 0.97%, slightly below 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 zip code 54739 has both the highest and lowest median property tax rate of 0.97%. Understanding how these cities compare with Elk Mound provides valuable insights into the varying tax landscape across Eau Claire County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elk Mound Tax Rate
0.97%
Average Eau Claire County Tax Rate
1.20%
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 | 0.91% | 0.93% | 0.97% | 1.05% | 1.07% |
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 Eau Claire 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 highest and lowest median tax bills in the area both stand at $1,503 in zip code 54739, compared to the national median property tax rate of 0.99%.
Average Elk Mound Assessed Value
$150,850
Average Eau Claire County Assessed Value
$211,200
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 | $114,830 | $129,675 | $150,850 | $226,750 | $289,510 |
Source: Ownwell
Property Tax Bills Across Elk Mound, Wisconsin
In Elk Mound, located in Eau Claire County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For instance, the median home price in Elk Mound is $150,850. Homeowners in the 25th percentile can expect a tax bill of about $1,230, while those in the 75th percentile might see a bill around $2,285. At the 90th percentile, tax bills can reach up to $2,968. Comparatively, the national median property tax rate is 0.99%, making Elk Mound's rates quite competitive. These property taxes contribute to essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these factors interplay helps residents anticipate their annual financial obligations and plan accordingly.
Average Elk Mound Tax Bill
$1,503
Average Eau Claire County Tax Bill
$3,004
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 | $1,044 | $1,230 | $1,503 | $2,285 | $2,968 |
Source: Ownwell