Tripoli, Wisconsin Property Taxes
The median property tax rate in Tripoli, WI is 1.04%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $157,100 in Tripoli, the typical annual property tax bill amounts to $1,617, which is below the national median of $2,690. Property taxes in Tripoli 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 Tripoli'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 Tripoli 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
Tripoli, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,634
Ownwell’s Tripoli Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tripoli with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tripoli 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 Tripoli, Wisconsin
Property taxes in Tripoli, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tripoli is 1.04%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Tripoli set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tripoli 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 Tripoli's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54564 zip code in Lincoln County has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Tripoli provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tripoli Tax Rate
1.04%
Average Lincoln County Tax Rate
1.15%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | 0.88% | 0.98% | 1.04% | 1.09% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Tripoli, Wisconsin
In Tripoli, 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 Lincoln 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 Tripoli, 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 Tripoli helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tripoli is $157,100, with the highest median tax bill being $1,617 in zip code 54564.
Average Tripoli Assessed Value
$157,100
Average Lincoln County Assessed Value
$156,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | $71,760 | $108,850 | $157,100 | $213,525 | $274,860 |
Source: Ownwell
Property Tax Bills Across Tripoli, Wisconsin
In Tripoli, Lincoln County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. 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 $157,100, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,125, while those in the 75th percentile pay about $2,267. At the 90th percentile, the tax bill can reach up to $2,947. These figures highlight the variability in tax bills, which can impact homeowners differently based on their property’s assessed value and the local tax rate. Compared to the national median property tax rate of 0.99%, Tripoli's tax rates can be seen as moderate to high, depending on the specific property. This variability underscores the importance of understanding how local assessments and tax rates can significantly affect overall property tax obligations.
Average Tripoli Tax Bill
$1,617
Average Lincoln County Tax Bill
$2,035
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Tripoli, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54564 | $686 | $1,125 | $1,617 | $2,267 | $2,947 |
Source: Ownwell