Algoma, Wisconsin Property Taxes
The median property tax rate in Algoma, WI is 1.93%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Algoma, the typical annual property tax bill reaches $2,573, just below the national median of $2,690. Property taxes in Algoma 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 Algoma'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 Algoma 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
Algoma, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$2,824
Ownwell’s Algoma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Algoma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Algoma 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 Algoma, Wisconsin
Property taxes in Algoma, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Algoma is 1.93%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Algoma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Algoma 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 Algoma's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54201 zip code has the highest median property tax rate of 1.93%, while the same zip code has the lowest median tax rate of 1.93%. Understanding how these cities compare with Algoma provides valuable insights into the varying tax landscape across Kewaunee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Algoma Tax Rate
1.93%
Average Kewaunee County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Algoma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54201 | 1.31% | 1.44% | 1.93% | 2.03% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Algoma, Wisconsin
In Algoma, 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 Kewaunee 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 Algoma, 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 Algoma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 54201, both at $2573.
Average Algoma Assessed Value
$146,300
Average Kewaunee County Assessed Value
$180,100
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Algoma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54201 | $73,100 | $104,950 | $146,300 | $200,550 | $286,400 |
Source: Ownwell
Property Tax Bills Across Algoma, Wisconsin
In Algoma, located in Kewaunee County, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $146,300, homeowners can expect varying tax bills depending on their property's specific assessment. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. In Algoma, the 25th percentile tax bill is around $1,902, while the 75th percentile tax bill is approximately $3,472. For those at the higher end, the 90th percentile tax bill reaches up to $4,613. These tax bills can significantly impact homeowners' finances, making it crucial for them to understand how their property is assessed and stay informed about potential exemptions or appeal opportunities.
Average Algoma Tax Bill
$2,573
Average Kewaunee County Tax Bill
$2,834
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Algoma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54201 | $1,255 | $1,902 | $2,573 | $3,472 | $4,613 |
Source: Ownwell