Markesan, Wisconsin Property Taxes
The median property tax rate in Markesan, WI is 0.95%, slightly below the national median of 0.99% and significantly lower than the Wisconsin state median of 1.58%. With a median home value of $258,100 in Markesan, the typical annual property tax bill reaches $2,463, which is below the national median of $2,690. Property taxes in Markesan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Markesan'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 Markesan 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
Markesan, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$2,452
$2,275
Ownwell’s Markesan Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Markesan with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Markesan to estimate your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Markesan, Wisconsin
Property taxes in Markesan, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Markesan is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Markesan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Markesan 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 Markesan's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 53946 has both the highest and lowest median property tax rate of 0.95%. Understanding how these areas compare with Markesan 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 Markesan Tax Rate
0.95%
Average Marquette County Tax Rate
1.32%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Markesan, Wisconsin
In Markesan, 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 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 Markesan, 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 Markesan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Markesan, both amounting to $2463, are found in the 53946 zip code.
Average Markesan Assessed Value
$258,100
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 Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $258,100 | $258,100 | $258,100 | $258,100 | $258,100 |
Source: Ownwell
Property Tax Bills Across Markesan, Wisconsin
In Markesan, located in Marquette County, WI, 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 local assessor and reflects the market value of the property. For a typical home in Markesan, with a median home price of $258,100, the property tax bill is notably consistent, with values at the 25th, 75th, and 90th percentiles all being $2,463. This uniformity suggests a stable tax rate in the area. The tax bill is influenced by several factors, including the property's assessed value, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, homeowners in Markesan face a slightly higher effective tax rate. This impacts homeowners by contributing to the overall cost of owning property in the area. Understanding how these factors interplay can help homeowners anticipate their tax obligations and plan their finances accordingly.
Average Markesan Tax Bill
$2,463
Average Marquette County Tax Bill
$1,806
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Markesan, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53946 | $2,463 | $2,463 | $2,463 | $2,463 | $2,463 |
Source: Ownwell