Montello, Wisconsin Property Taxes
The median property tax rate in Montello, WI is 1.38%, 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 $97,100, the typical annual property tax bill in Montello reaches $1,392, falling below the national median of $2,690. Property taxes in Montello are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Montello'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 Montello or another part of Marquette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montello, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,340
$1,243
Ownwell’s Montello Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montello with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montello 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 Montello, Wisconsin
Property taxes in Montello, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montello is 1.38%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Montello set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montello 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 Montello's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53949 zip code has the highest median property tax rate of 1.38%, while the 53949 zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Montello 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 Montello Tax Rate
1.38%
Average Marquette County Tax Rate
1.32%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | 1.15% | 1.25% | 1.38% | 1.78% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Montello, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Montello, WI. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Montello, 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. Montello homeowners should note that the median home price is $97,100, with tax bills ranging from $944 at the 25th percentile to $3,558 at the 90th percentile. The highest and lowest median tax bills, both at $1,392, are found in the 53949 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montello Assessed Value
$97,100
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 Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | $35,800 | $62,050 | $97,100 | $156,725 | $269,000 |
Source: Ownwell
Property Tax Bills Across Montello, Wisconsin
In Montello, located in Marquette County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Montello is $97,100. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $944 and the 75th percentile reaching $2,391. At the 90th percentile, some homeowners may see tax bills as high as $3,558. The property tax rate in Montello is influenced by various factors, including local government budgets, school funding, and essential public services. Compared to the national median property tax rate of 0.99%, Montello's rates reflect the specific financial needs of the community. These taxes are crucial for maintaining local infrastructure and services, but they can also pose a financial burden on homeowners. Understanding these dynamics helps homeowners anticipate their annual tax responsibilities and plan their finances accordingly.
Average Montello Tax Bill
$1,392
Average Marquette County Tax Bill
$1,806
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Montello, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53949 | $523 | $944 | $1,392 | $2,391 | $3,558 |
Source: Ownwell