Mondovi, Pepin County, Wisconsin Property Taxes
The median property tax rate in Mondovi, WI is 1.84%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mondovi at $204,700, the typical annual property tax bill reaches $3,637, exceeding the national median of $2,690. Property taxes in Mondovi 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 Mondovi'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 Mondovi 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
Mondovi, Pepin County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$3,766
$3,495
Ownwell’s Mondovi Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mondovi with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mondovi 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 Mondovi, Pepin County, Wisconsin
Property taxes in Mondovi, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mondovi is 1.84%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mondovi set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mondovi 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 Mondovi's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54755 has both the highest and lowest median property tax rate of 1.84%. Understanding how these areas compare with Mondovi provides valuable insights into the varying tax landscape across Pepin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mondovi Tax Rate
1.84%
Average Pepin County Tax Rate
1.98%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mondovi, Pepin County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54755 | 1.59% | 1.62% | 1.84% | 1.86% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Mondovi, Pepin County, Wisconsin
In Mondovi, 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 Pepin 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 Mondovi, 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 Mondovi helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 54755 has both the highest and lowest median tax bill at $3,637.
Property Tax Assessment Values Across Mondovi, Pepin County, Wisconsin
Source: Ownwell
$142,300
$175,200
$208,100
Average Mondovi Assessed Value
$204,700
Average Pepin County Assessed Value
$159,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mondovi, Pepin County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54755 | $89,460 | $146,650 | $204,700 | $283,400 | $362,620 |
Source: Ownwell
Property Tax Bills Across Mondovi, Pepin County, Wisconsin
In Mondovi, located in Pepin 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 Mondovi is $204,700, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and any improvements made to the home can influence the assessed value. For homeowners, this means that their annual property tax bill can vary significantly. For example, the tax bill at the 25th percentile is $2,623, while at the 75th percentile, it rises to $5,165. At the 90th percentile, it can reach as high as $6,588. These variations can impact homeowners' budgets and overall financial planning. Comparatively, the national median property tax rate is 0.99%, and Mondovi’s rates reflect the localized needs and services funded by these taxes. Homeowners in Mondovi should be aware of these factors to better manage their financial obligations and potential appeals.
Average Mondovi Tax Bill
$3,637
Average Pepin County Tax Bill
$2,950
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mondovi, Pepin County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54755 | $1,456 | $2,623 | $3,637 | $5,165 | $6,588 |
Source: Ownwell