Presque Isle, Iron County, Wisconsin Property Taxes
The median property tax rate in Presque Isle, WI is 1.39%, which is considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Presque Isle, the typical annual property tax bill reaches $3,185, exceeding the national median of $2,690. Property taxes in Presque Isle are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Presque Isle'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 Presque Isle 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
Presque Isle, Iron County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$3,191
$2,962
Ownwell’s PRESQUE ISLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PRESQUE ISLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PRESQUE ISLE 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 Presque Isle, Iron County, Wisconsin
Property taxes in Presque Isle, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Presque Isle is 1.39%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Presque Isle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Presque Isle 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 Presque Isle's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54557 zip code has the highest median property tax rate of 1.39%, while the 54557 zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Presque Isle 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 Presque Isle Tax Rate
1.39%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Presque Isle, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Presque Isle, Iron County, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Presque Isle, Wisconsin. The market value represents 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 local 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 Presque Isle, 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 the area is $229,600, with tax bills ranging from $2,147 at the 25th percentile to $6,301 at the 90th percentile. The highest median tax bill is $3,185 in the 54557 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Presque Isle, Iron County, Wisconsin
Source: Ownwell
$36,800
$133,200
$229,600
Average Presque Isle Assessed Value
$229,600
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 Presque Isle, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | $103,800 | $150,500 | $229,600 | $358,650 | $454,300 |
Source: Ownwell
Property Tax Bills Across Presque Isle, Iron County, Wisconsin
In Presque Isle, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Homeowners in Iron County typically see property tax rates that can vary significantly. The tax bill is influenced by the median home price, which stands at $229,600. To illustrate, the 25th percentile tax bill in this area is $2,147, while the 75th percentile reaches $4,976, and the 90th percentile can be as high as $6,301. These figures highlight the range that homeowners might expect to pay, depending on the assessed value of their property and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Presque Isle may find their tax bills to be on the higher end, reflecting the local economic conditions and funding requirements for public services. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Presque Isle Tax Bill
$3,185
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Presque Isle, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54557 | $1,551 | $2,147 | $3,185 | $4,976 | $6,301 |
Source: Ownwell