Deer Park, Wisconsin Property Taxes
The median property tax rate in Deer Park, WI is 1.11%, which is considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Deer Park at $249,100, the typical annual property tax bill reaches $2,795, surpassing the national median of $2,690. Property taxes in Deer Park are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Deer Park'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 Deer Park or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deer Park, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$2,765
$2,566
Ownwell’s Deer Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deer Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Park 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 Deer Park, Wisconsin
Property taxes in Deer Park, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Park is 1.11%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Deer Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Park 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 Deer Park's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54007 ZIP code has both the highest and lowest median property tax rate of 1.11%. Understanding how these cities compare with Deer Park provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deer Park Tax Rate
1.11%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | 0.97% | 1.07% | 1.11% | 1.15% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Deer Park, Wisconsin
In Deer Park, 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 Polk 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 Deer Park, 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 Deer Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 54007, with a median tax bill of $2,795, and the lowest is also 54007, with the same value.
Average Deer Park Assessed Value
$249,100
Average Polk County Assessed Value
$219,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | $83,980 | $154,400 | $249,100 | $350,900 | $448,800 |
Source: Ownwell
Property Tax Bills Across Deer Park, Wisconsin
In Deer Park, Polk 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 the area stands at $249,100, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the assessed value, including the property's size, location, and any improvements made. Homeowners typically see a range of tax bills, with the 25th percentile at $1,704 and the 75th percentile reaching $4,073. For those at the higher end, the 90th percentile tax bill can be as much as $5,118. These taxes fund essential public services like schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Deer Park's tax bills reflect the region's specific economic conditions and public service needs, making it crucial for homeowners to understand how their tax obligations are determined and utilized.
Average Deer Park Tax Bill
$2,795
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | $865 | $1,704 | $2,795 | $4,073 | $5,118 |
Source: Ownwell