Junction City, Wisconsin Property Taxes
The median property tax rate in Junction City, WI is 1.20%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Junction City, the typical annual property tax bill reaches $1,230, falling below the national median of $2,690. Property taxes in Junction City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Junction City'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 Junction City or another part of Marathon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Junction City, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,321
$1,226
Ownwell’s Junction City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Junction City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Junction City 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 Junction City, Wisconsin
Property taxes in Junction City, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Junction City is 1.20%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Junction City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Junction City 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 Junction City's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54443 has a median property tax rate of 1.20%, which is the same as Junction City's rate. Understanding how these areas compare with Junction City provides valuable insights into the varying tax landscape across Marathon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Junction City Tax Rate
1.20%
Average Marathon County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Junction City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54443 | 1.12% | 1.15% | 1.20% | 1.20% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Junction City, Wisconsin
In Junction City, 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 Marathon 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 Junction City, 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 Junction City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in the area is 54443, with a median bill of $1,230.
Property Tax Assessment Values Across Junction City, Wisconsin
Source: Ownwell
$15,598
$132,757
$249,915
Average Junction City Assessed Value
$110,108
Average Marathon County Assessed Value
$164,200
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Junction City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54443 | $17,744 | $17,744 | $110,108 | $249,913 | $389,993 |
Source: Ownwell
Property Tax Bills Across Junction City, Wisconsin
In Junction City, 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, who evaluates the property’s market value. For instance, with a median home price of $110,108, homeowners can expect varying tax bills depending on their specific property assessments and applicable exemptions. Several factors influence the final tax bill, including property size, location, and any improvements made. Tax bills in Junction City show a wide range, with the 25th percentile at $213 and the 75th percentile at $2,902. The 90th percentile can reach up to $4,711, reflecting significant disparities based on property values and assessments. For homeowners, these taxes fund essential local services like schools, public safety, and infrastructure. While the national median property tax rate stands at 0.99%, individual tax burdens in Junction City can vary widely. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Junction City Tax Bill
$1,230
Average Marathon County Tax Bill
$2,706
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Junction City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54443 | $213 | $213 | $1,230 | $2,902 | $4,711 |
Source: Ownwell