Stevens Point, Wisconsin Property Taxes
The median property tax rate in Stevens Point, WI is 1.99%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Stevens Point at $165,500, the typical annual property tax bill reaches $2,877, exceeding the national median of $2,690. Property taxes in Stevens Point 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 Stevens Point'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 Stevens Point 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
Stevens Point, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$3,293
$3,056
Ownwell’s Stevens Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stevens Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stevens Point 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 Stevens Point, Wisconsin
Property taxes in Stevens Point, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stevens Point is 1.99%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Stevens Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stevens Point 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 Stevens Point's effective property tax rate to other zip codes in Portage County and the national median. For comparison, the 54481 zip code has the highest median property tax rate of 2.03%, while the 54482 zip code has the lowest median tax rate of 1.31%. Understanding how these areas compare with Stevens Point 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 Stevens Point Tax Rate
1.99%
Average Portage County Tax Rate
1.54%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stevens Point, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54481 | 1.31% | 1.88% | 2.03% | 2.12% | 2.16% |
| 54482 | 1.22% | 1.26% | 1.31% | 1.40% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Stevens Point, Wisconsin
In Stevens Point, 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 Portage County Assessor 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 Stevens Point, 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. For example, the highest median tax bill in Stevens Point is $3,125 in the 54482 zip code, while the lowest is $2,806 in the 54481 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stevens Point, Wisconsin
Source: Ownwell
$103,500
$214,700
$325,900
Average Stevens Point Assessed Value
$165,500
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 Stevens Point, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54481 | $71,700 | $110,100 | $146,600 | $198,000 | $273,720 |
| 54482 | $49,900 | $171,800 | $231,200 | $312,200 | $404,540 |
Source: Ownwell
Property Tax Bills Across Stevens Point, Wisconsin
In Stevens Point, located in Portage County, WI, property tax bills are calculated based on the assessed value of a home, which reflects its market value. Various factors influence the tax bill, including the home's size, location, and condition. The local tax rate is applied to the assessed value to determine the final tax bill. For instance, with a median home price of $165,500, homeowners in Stevens Point can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $2,134, while the 75th percentile reaches $3,871, and the 90th percentile can be as high as $5,445. Compared to the national median property tax rate of 0.99%, Stevens Point's property tax bills reflect a higher burden for homeowners. This variation in tax bills can significantly impact household budgets, influencing decisions on homeownership and long-term financial planning. Homeowners in the highest median tax bill zip code, 54482, face an average of $3,125, while those in the lowest, 54481, see around $2,806.
Average Stevens Point Tax Bill
$2,877
Average Portage County Tax Bill
$2,873
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Stevens Point, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54481 | $1,303 | $2,107 | $2,806 | $3,667 | $4,956 |
| 54482 | $722 | $2,217 | $3,125 | $4,556 | $6,500 |
Source: Ownwell