Osceola, Wisconsin Property Taxes
The median property tax rate in Osceola, WI is 1.13%, 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 $258,200 in Osceola, the typical annual property tax bill amounts to $3,131, surpassing the national median of $2,690. Property taxes in Osceola are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Osceola'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 Osceola 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
Osceola, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$2,918
Ownwell’s Osceola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osceola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osceola 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 Polk County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Osceola, Wisconsin
Property taxes in Osceola, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osceola is 1.13%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Osceola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osceola 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 Osceola's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54020 zip code has the highest median property tax rate of 1.13%, while the 54020 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Osceola 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 Osceola Tax Rate
1.13%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osceola, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54020 | 1.03% | 1.07% | 1.13% | 1.37% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Osceola, Wisconsin
In Osceola, 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. 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. Osceola's median home price stands at $258,200, with tax bills ranging from $2,367 at the 25th percentile to $4,079 at the 75th percentile, and reaching $5,215 at the 90th percentile. The highest and lowest median tax bills are both $3,131, found in the 54020 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Osceola Assessed Value
$258,200
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 Osceola, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54020 | $146,100 | $201,200 | $258,200 | $341,600 | $441,900 |
Source: Ownwell
Property Tax Bills Across Osceola, Wisconsin
In Osceola, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine the amount owed. For instance, with a median home price of $258,200, homeowners can expect varying property tax bills depending on specific factors like property location and any applicable exemptions. The 25th percentile tax bill is around $2,367, while the 75th percentile reaches up to $4,079, and the 90th percentile can go as high as $5,215. These figures illustrate a range of potential tax liabilities, highlighting how different factors influence the final amount. The highest median tax bill in the area is $3,131, found in the 54020 zip code, which is also the lowest median tax bill, indicating a consistent rate within that region. Compared to the national median property tax rate of 0.99%, the property taxes in Osceola can significantly impact homeowners, making it crucial to understand the local assessment practices and potential exemptions available.
Average Osceola Tax Bill
$3,131
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Osceola, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54020 | $1,690 | $2,367 | $3,131 | $4,079 | $5,215 |
Source: Ownwell