Elroy, Wisconsin Property Taxes
The median property tax rate in Elroy, WI is 1.53%, slightly lower than the Wisconsin state median of 1.58% but still considerably higher than the national median of 0.99%. With the median home value in Elroy at $115,550, the typical annual property tax bill amounts to $1,644, which is below the national median of $2,690. Property taxes in Elroy 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. By understanding Elroy's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Elroy or another part of Monroe County, gaining insights into the local property tax system will be beneficial.
Last Updated June 14, 2024
Elroy, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,768
Ownwell’s Elroy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elroy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elroy 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 Elroy, Wisconsin
Property taxes in Elroy, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elroy is 1.53%, which is significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Elroy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elroy 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 Elroy's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53929 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these cities compare with Elroy provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elroy Tax Rate
1.53%
Average Monroe County Tax Rate
1.50%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | 1.18% | 1.39% | 1.53% | 1.64% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Elroy, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Elroy, Wisconsin. 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 Monroe 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 Elroy, 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. The median home price in Elroy is $115,550, with tax bills ranging from $1,023 at the 25th percentile to $4,407 at the 90th percentile. The highest and lowest median tax bills are both $1,644 in the 53929 zip code. 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 Elroy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elroy Assessed Value
$115,550
Average Monroe County Assessed Value
$170,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | $35,430 | $73,650 | $115,550 | $198,825 | $275,310 |
Source: Ownwell
Property Tax Bills Across Elroy, Wisconsin
In Elroy, located in Monroe 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. Homeowners in Elroy can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,023, while the 75th percentile tax bill reaches $3,108, and the 90th percentile climbs to $4,407. These variations are influenced by factors such as property size, location, and improvements. Elroy's median home price is approximately $115,550, and the property tax rate in Monroe County is notably higher than the national median rate of 0.99%. This higher rate results in substantial tax bills for homeowners, impacting their financial planning and housing affordability. Understanding these factors can help homeowners in Elroy better anticipate their annual property tax obligations and manage their budgets accordingly.
Average Elroy Tax Bill
$1,644
Average Monroe County Tax Bill
$2,549
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Elroy, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53929 | $427 | $1,023 | $1,644 | $3,108 | $4,407 |
Source: Ownwell