Abrams, Wisconsin Property Taxes
The median property tax rate in Abrams, WI is 1.29%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $241,000 in Abrams, the typical annual property tax bill amounts to $3,034, surpassing the national median of $2,690. Property taxes in Abrams are calculated based on the assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Abrams' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Abrams 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
Abrams, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$3,109
$2,885
Ownwell’s Abrams Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Abrams using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Abrams to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Abrams, Wisconsin
Property taxes in Abrams, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Abrams is 1.29%, significantly higher than the U.S. national median of 0.99%. Local government entities within Abrams set these rates annually, and they can vary significantly across different neighborhoods. Each year, Abrams 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 Abrams' effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54101 has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these areas compare with Abrams provides valuable insights into the varying tax landscape across Oconto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Abrams Tax Rate
1.29%
Average Oconto County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Abrams, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54101 | 1.07% | 1.22% | 1.29% | 1.33% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Abrams, Wisconsin
In Abrams, 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 Oconto County Assessor 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 Abrams, 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 Abrams is $241,000, with tax bills ranging from $2,001 at the 25th percentile to $5,185 at the 90th percentile. The zip code 54101 has both the highest and lowest median tax bill, at $3,034. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Abrams Assessed Value
$241,000
Average Oconto County Assessed Value
$159,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Abrams, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54101 | $85,420 | $155,250 | $241,000 | $318,350 | $391,560 |
Source: Ownwell
Property Tax Bills Across Abrams, Wisconsin
In Abrams, located in Oconto County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $241,000, homeowners can expect varying tax bills depending on several factors. The tax bill at the 25th percentile is around $2,001, while at the 75th percentile, it rises to approximately $4,111. For those in the 90th percentile, the tax bill can reach up to $5,185. These tax bills are influenced by the local tax rate and the specific assessed value of the property. Homeowners in Abrams should be aware that their property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the rates in Abrams reflect both the value of the property and the financial needs of the community.
Average Abrams Tax Bill
$3,034
Average Oconto County Tax Bill
$2,049
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Abrams, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54101 | $1,026 | $2,001 | $3,034 | $4,111 | $5,185 |
Source: Ownwell