Scandinavia, Wisconsin Property Taxes
The median property tax rate in Scandinavia, WI is 1.47%, considerably higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With the median home value in Scandinavia at $204,600, the typical annual property tax bill reaches $3,009, surpassing the national median of $2,690. Property taxes in Scandinavia 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 Scandinavia'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 Scandinavia 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
Scandinavia, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Scandinavia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scandinavia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scandinavia 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 Scandinavia, Wisconsin
Property taxes in Scandinavia, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scandinavia stands at 1.47%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Scandinavia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scandinavia 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 Scandinavia's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54977 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these figures compare with Scandinavia provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Scandinavia Tax Rate
1.47%
Average Portage County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Scandinavia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54977 | 1.11% | 1.31% | 1.47% | 1.52% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Scandinavia, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Scandinavia, Wisconsin. 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 Portage 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 Scandinavia, 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 Scandinavia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Portage County, the median home price is $204,600, with tax bills ranging from $1,748 at the 25th percentile to $4,597 at the 90th percentile. The zip code 54977 has the highest and lowest median tax bill of $3,009.
Average Scandinavia Assessed Value
$204,600
Average Portage County Assessed Value
$182,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Scandinavia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54977 | $97,480 | $136,100 | $204,600 | $263,100 | $336,100 |
Source: Ownwell
Property Tax Bills Across Scandinavia, Wisconsin
In Scandinavia, Wisconsin, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. Various factors, such as the home's location, size, and condition, play a role in determining its assessed value. For homeowners in Scandinavia, the median home price is $204,600. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,748 and the 75th percentile at $3,702. At the higher end, the 90th percentile tax bill reaches $4,597. This variation affects homeowners differently, potentially influencing decisions on home improvements and long-term investments. Compared to the national median property tax rate of 0.99%, homeowners in Scandinavia may find their tax bills higher or lower depending on their property's assessed value and the specific tax rate applied by Portage County. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Scandinavia Tax Bill
$3,009
Average Portage County Tax Bill
$2,873
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Scandinavia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54977 | $1,473 | $1,748 | $3,009 | $3,702 | $4,597 |
Source: Ownwell