Marathon, Wisconsin Property Taxes
The median property tax rate in Marathon, WI is 1.46%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $196,992, the typical annual property tax bill in Marathon reaches $3,052, surpassing the national median of $2,690. Property taxes in Marathon 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 Marathon'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 Marathon or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marathon, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$2,876
$2,669
Ownwell’s Marathon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marathon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marathon 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 Marathon, Wisconsin
Property taxes in Marathon, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marathon is 1.46%, significantly higher than the U.S. national median of 0.99%. Local government entities within Marathon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marathon 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 Marathon's effective property tax rate to the national median. For comparison, the 54448 zip code has the highest median property tax rate of 1.46%, while the same 54448 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Marathon 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 Marathon Tax Rate
1.46%
Average Marathon County Tax Rate
1.64%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marathon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54448 | 1.28% | 1.35% | 1.46% | 1.80% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Marathon, Wisconsin
In Marathon, 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 Marathon, 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. For instance, the median home price in Marathon is $196,992, with annual tax bills ranging from $2,132 at the 25th percentile to $5,553 at the 90th percentile. The zip code 54448 has both the highest and lowest median tax bill at $3,052. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marathon Assessed Value
$196,992
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 Marathon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54448 | $51,041 | $139,109 | $196,992 | $279,349 | $371,005 |
Source: Ownwell
Property Tax Bills Across Marathon, Wisconsin
In Marathon, 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 property tax bill. Various factors influence the assessed value, including the market value of the property, recent sales of similar properties, and improvements or renovations made to the home. For homeowners in Marathon, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $2,132, while the 75th percentile reaches approximately $4,132. At the 90th percentile, homeowners might see tax bills as high as $5,553. The median home price in Marathon is $196,992, which helps give context to these amounts. Compared to the national median property tax rate of 0.99%, Marathon homeowners experience a range of tax bills that reflect both the value of their homes and the local tax rate, impacting their annual financial planning.
Average Marathon Tax Bill
$3,052
Average Marathon County Tax Bill
$2,706
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Marathon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54448 | $783 | $2,132 | $3,052 | $4,132 | $5,553 |
Source: Ownwell