Coloma, Wisconsin Property Taxes
The median property tax rate in Coloma, WI is 1.27%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $454,500, the typical annual property tax bill in Coloma reaches $5,740, surpassing the national median of $2,690. Property taxes in Coloma are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Coloma'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 Coloma 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
Coloma, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$5,772
$5,356
Ownwell’s Coloma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coloma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coloma 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 Coloma, Wisconsin
Property taxes in Coloma, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coloma is 1.27%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Coloma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coloma 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 Coloma's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54930 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Coloma provides valuable insights into the varying tax landscape across Marquette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coloma Tax Rate
1.27%
Average Marquette County Tax Rate
1.32%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | 1.26% | 1.26% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Coloma, Wisconsin
In Coloma, Wisconsin, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Marquette 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 Coloma, 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 Coloma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Coloma is $5,740 in the 54930 zip code, which is also the lowest median tax bill.
Average Coloma Assessed Value
$454,500
Average Marquette County Assessed Value
$127,100
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $231,700 | $315,250 | $454,500 | $593,750 | $677,300 |
Source: Ownwell
Property Tax Bills Across Coloma, Wisconsin
In Coloma, Marquette County, WI, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and any improvements or renovations. For homeowners in Coloma, property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $3,989, while at the 75th percentile, it rises to $7,491. The 90th percentile tax bill can reach up to $8,541. These property tax bills impact homeowners by contributing to the overall cost of homeownership, which can influence decisions on buying or selling property. Compared to the national median property tax rate of 0.99%, Coloma's property tax bills reflect the local economic conditions and property values, shaping the financial landscape for residents.
Average Coloma Tax Bill
$5,740
Average Marquette County Tax Bill
$1,806
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $2,939 | $3,989 | $5,740 | $7,491 | $8,541 |
Source: Ownwell