Upson, Wisconsin Property Taxes
The median property tax rate in Upson, WI is 1.28%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Upson at $54,100, the typical annual property tax bill amounts to $692, which is significantly below the national median of $2,690. Property taxes in Upson are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Upson'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 Upson 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
Upson, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$692
Ownwell’s Upson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Upson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Upson 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 Upson, Wisconsin
Property taxes in Upson, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upson is 1.28%, significantly higher than both the Wisconsin state median of 1.05% and the U.S. national median of 0.99%. Local government entities within Upson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upson 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 Upson's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54565 zip code has the highest median property tax rate of 1.28%, while the same zip code also holds the lowest median tax rate of 1.28%. Understanding how these cities compare with Upson 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 Upson Tax Rate
1.28%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Upson, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54565 | 1.28% | 1.28% | 1.28% | 1.28% | 1.29% |
Source: Ownwell
Property Tax Assessment Values Across Upson, Wisconsin
In Upson, 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 Upson, 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 Upson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54565 has the highest and lowest median tax bill, both at $692.
Average Upson Assessed Value
$54,100
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 Upson, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54565 | $6,940 | $28,050 | $54,100 | $118,450 | $155,600 |
Source: Ownwell
Property Tax Bills Across Upson, Wisconsin
In Upson, located in Iron County, WI, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Homeowners in Upson face a median home price of $54,100. The property tax rate in this area is influenced by various factors such as local government budgets, school funding, and public services. For homeowners in Upson, the tax bill can vary significantly. At the 25th percentile, the tax bill is around $359, while at the 75th percentile, it rises to approximately $1,528. For those at the 90th percentile, the tax bill can reach up to $2,020. These figures reflect the wide range of property values and the corresponding tax obligations. Compared to the national median property tax rate of 0.99%, Upson's tax bills illustrate the impact of local assessments and budgetary needs on homeowners' financial responsibilities.
Average Upson Tax Bill
$692
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Upson, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54565 | $89 | $359 | $692 | $1,528 | $2,020 |
Source: Ownwell