Gillett, Menominee County, Wisconsin Property Taxes
The median property tax rate in Gillett, WI is 1.70%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Gillett, the typical annual property tax bill reaches $7,901, exceeding the national median of $2,690. Property taxes in Gillett are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gillett'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 Gillett 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
Gillett, Menominee County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$7,708
$7,153
Ownwell’s Gillett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gillett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gillett 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 Gillett, Menominee County, Wisconsin
Property taxes in Gillett, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gillett is 1.70%, significantly higher than the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Gillett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gillett 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 Gillett's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the highest median property tax rate in Menominee County is also 1.70%, while the lowest median tax rate is 1.70%. Understanding how these cities compare with Gillett provides valuable insights into the varying tax landscape across Menominee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gillett Tax Rate
1.70%
Average Menominee County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gillett, Menominee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54124 | 1.64% | 1.68% | 1.70% | 1.70% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Gillett, Menominee County, Wisconsin
In Gillett, 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 Menominee 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 Gillett, 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 Gillett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Menominee County is $7,901 in zip code 54124, while the lowest is also $7,901 in the same zip code.
Property Tax Assessment Values Across Gillett, Menominee County, Wisconsin
Source: Ownwell
$87,700
$270,550
$453,400
Average Gillett Assessed Value
$453,400
Average Menominee County Assessed Value
$171,400
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gillett, Menominee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54124 | $123,300 | $298,150 | $453,400 | $548,700 | $692,100 |
Source: Ownwell
Property Tax Bills Across Gillett, Menominee County, Wisconsin
In Gillett, Menominee County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the total tax bill. Factors such as the property's location, size, and market value influence its assessed value. For instance, homeowners in Gillett can expect their property tax bills to vary significantly, with the 25th percentile at $5,451 and the 75th percentile reaching $9,318. The highest median tax bill in the area is $7,901, which is notably higher than the national median property tax rate of 0.99%. These taxes fund essential local services like schools, public safety, and infrastructure. Consequently, homeowners must budget for these annual expenses, as higher property taxes can impact overall housing affordability. Understanding how property tax bills are calculated can help homeowners anticipate their financial obligations and plan accordingly.
Average Gillett Tax Bill
$7,901
Average Menominee County Tax Bill
$3,186
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Gillett, Menominee County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54124 | $2,118 | $5,451 | $7,901 | $9,318 | $11,891 |
Source: Ownwell