Melrose, Wisconsin Property Taxes
The median property tax rate in Melrose, WI is 1.52%, which is considerably higher than the national median of 0.99% but slightly lower than the Wisconsin state median of 1.58%. With a median home value of $129,200 in Melrose, the typical annual property tax bill amounts to $1,976, which is below the national median of $2,690. Property taxes in Melrose are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Melrose'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 Melrose 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
Melrose, 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 Melrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Melrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melrose 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 Melrose, Wisconsin
Property taxes in Melrose, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melrose is 1.52%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Melrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melrose 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 Melrose's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54642 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these areas compare with Melrose provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melrose Tax Rate
1.52%
Average Jackson County Tax Rate
1.36%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | 1.22% | 1.41% | 1.52% | 1.62% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Melrose, Wisconsin
In Melrose, 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 Jackson 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 Melrose, 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. For example, the median home price in Melrose is $129,200, with tax bills ranging from $1,236 at the 25th percentile to $4,092 at the 90th percentile. The highest median tax bill of $1,976 is found in the 54642 zip code, which also has the lowest median 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 Melrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Melrose Assessed Value
$129,200
Average Jackson County Assessed Value
$129,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | $42,540 | $85,900 | $129,200 | $187,400 | $252,260 |
Source: Ownwell
Property Tax Bills Across Melrose, Wisconsin
In Melrose, 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 market value of the property. The tax rate, set by local government entities, is applied to this assessed value to calculate the annual tax bill. Homeowners in Melrose can expect a wide range of tax bills depending on their property's value. For instance, the 25th percentile tax bill is $1,236, while the 75th percentile tax bill reaches $2,904. At the higher end, the 90th percentile tax bill can be as much as $4,092. These property tax bills have a significant impact on homeowners, influencing their monthly housing costs and overall financial planning. Compared to the national median property tax rate of 0.99%, Melrose's property taxes can vary but remain a crucial factor in the cost of owning a home in this region of Jackson County.
Average Melrose Tax Bill
$1,976
Average Jackson County Tax Bill
$1,879
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | $656 | $1,236 | $1,976 | $2,904 | $4,092 |
Source: Ownwell