Montreal, Wisconsin Property Taxes
The median property tax rate in Montreal, WI is 1.74%, significantly higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $57,250 in Montreal, the typical annual property tax bill amounts to $933, which is below the national median of $2,690. Property taxes in Montreal are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Montreal'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 Montreal or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montreal, 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 Montreal Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Montreal with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Montreal to estimate your property tax bill. This valuable tool provides insight into potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Montreal, Wisconsin
Property taxes in Montreal, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Montreal is 1.74%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Montreal set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montreal 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 Montreal's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54550 has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these cities compare with Montreal provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montreal Tax Rate
1.74%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montreal, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54550 | 1.23% | 1.37% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Montreal, Wisconsin
In Montreal, 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 Iron 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 Montreal, 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. For instance, the median home price in Montreal is $57,250, with tax bills ranging from $677 at the 25th percentile to $2,173 at the 90th percentile. The highest and lowest median tax bills in the area are both $933, found in the 54550 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montreal Assessed Value
$57,250
Average Iron County Assessed Value
$97,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montreal, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54550 | $28,800 | $41,700 | $57,250 | $86,125 | $137,510 |
Source: Ownwell
Property Tax Bills Across Montreal, Wisconsin
In Montreal, located in Iron County, WI, property tax bills are determined based on the assessed value of a property and the local tax rate. The median home price in Montreal is $57,250, which serves as a pivotal factor in calculating the tax obligation for homeowners. The local property tax rate is applied to the assessed value to determine the final tax bill. Homeowners in Montreal typically see a tax bill ranging from $677 at the 25th percentile to $2,173 at the 90th percentile, showcasing a wide variance depending on property value and specific assessments. The median property tax bill in Montreal stands at $933, which is slightly below the national median property tax rate of 0.99%. This means that, on average, homeowners in Montreal pay a relatively moderate amount in property taxes compared to the national average. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Montreal Tax Bill
$933
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Montreal, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54550 | $422 | $677 | $933 | $1,347 | $2,173 |
Source: Ownwell