Oconto, Wisconsin Property Taxes
The median property tax rate in Oconto, WI is 1.68%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Oconto at $133,450, the typical annual property tax bill reaches $2,154, which is below the national median of $2,690. Property taxes in Oconto 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 Oconto'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 Oconto 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
Oconto, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$2,242
Ownwell’s Oconto Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oconto with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oconto 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 Oconto, Wisconsin
Property taxes in Oconto, Wisconsin, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Oconto is 1.68%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Oconto set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oconto 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 Oconto's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54153 has both the highest and lowest median property tax rate of 1.68%. Understanding how these areas compare with Oconto 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 Oconto Tax Rate
1.68%
Average Oconto County Tax Rate
1.20%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oconto, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54153 | 1.16% | 1.30% | 1.68% | 1.87% | 2.00% |
Source: Ownwell
Property Tax Assessment Values Across Oconto, Wisconsin
In Oconto, 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 local 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 Oconto, 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. Oconto's median home price stands at $133,450, with tax bills ranging from $1,515 at the 25th percentile to $4,363 at the 90th percentile. The highest and lowest median tax bills are both $2,154 in the 54153 zip code. Being aware of these valuation processes in Oconto helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oconto Assessed Value
$133,450
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 Oconto, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54153 | $62,880 | $93,000 | $133,450 | $200,525 | $289,740 |
Source: Ownwell
Property Tax Bills Across Oconto, Wisconsin
In Oconto, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the property tax rate set by the county. The median home price in Oconto is $133,450, which provides a baseline for understanding typical tax bills in the area. Homeowners in the 25th percentile can expect a tax bill around $1,515, while those in the 75th percentile might see bills closer to $3,115. For the top 10% of homeowners, tax bills can reach up to $4,363. These figures highlight the significant range in property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Oconto's tax rates can result in substantial annual costs for homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners budget more effectively and anticipate their annual property tax obligations.
Average Oconto Tax Bill
$2,154
Average Oconto County Tax Bill
$2,049
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Oconto, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54153 | $939 | $1,515 | $2,154 | $3,115 | $4,363 |
Source: Ownwell