Frederic, Polk County, Wisconsin Property Taxes
The median property tax rate in Frederic, WI is 1.20%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Frederic at $137,450, the typical annual property tax bill reaches $1,735, exceeding the national median of $2,690. Property taxes in Frederic 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 Frederic'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 Frederic 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
Frederic, Polk County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$1,649
$1,531
Ownwell’s Frederic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frederic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frederic 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 Frederic, Polk County, Wisconsin
Property taxes in Frederic, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frederic is 1.20%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Frederic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frederic 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 Frederic's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54837 has the highest median property tax rate of 1.20%, while the lowest median tax rate is also 1.20%, indicating uniformity in tax rates within this area. Understanding how these cities compare with Frederic 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 Frederic Tax Rate
1.20%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frederic, Polk County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54837 | 0.95% | 1.08% | 1.20% | 1.31% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Frederic, Polk County, Wisconsin
In Frederic, 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 Frederic, 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 Frederic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Frederic is 54837, with a tax bill of $1,735.
Property Tax Assessment Values Across Frederic, Polk County, Wisconsin
Source: Ownwell
$66,950
$209,075
$351,200
Average Frederic Assessed Value
$137,450
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 Frederic, Polk County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54837 | $51,230 | $87,675 | $137,450 | $208,300 | $297,800 |
Source: Ownwell
Property Tax Bills Across Frederic, Polk County, Wisconsin
In Frederic, located in Polk County, WI, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Frederic is $137,450. Homeowners can expect their tax bills to vary significantly, with the 25th percentile paying around $1,059 and those in the 75th percentile facing bills up to $2,555. For those at the 90th percentile, tax bills can soar to approximately $3,546. Several factors influence these tax bills, including the assessed property value, which is determined by local assessors, and the specific tax rate applied by the county. This rate is crucial as it directly impacts the final amount a homeowner has to pay. Compared to the national median property tax rate of 0.99%, Frederic's rates reflect the local economic conditions and funding requirements for public services. Homeowners in Frederic need to be aware of these factors, as they significantly affect their annual financial planning and overall cost of homeownership.
Average Frederic Tax Bill
$1,735
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Frederic, Polk County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54837 | $541 | $1,059 | $1,735 | $2,555 | $3,546 |
Source: Ownwell