Sheldon, Wisconsin Property Taxes
The median property tax rate in Sheldon, WI is 1.08%, slightly above the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $83,250, the typical annual property tax bill in Sheldon is $891, which is below the national median of $2,690. Property taxes in Sheldon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Sheldon'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 Sheldon or another part of Rusk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sheldon, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$899
$834
Ownwell’s Sheldon Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Sheldon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheldon 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 Sheldon, Wisconsin
Property taxes in Sheldon, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sheldon is 1.08%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Sheldon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheldon 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 Sheldon's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54766 zip code has the highest median property tax rate of 1.08%, while the 54766 zip code also has the lowest median tax rate of 1.08%. Understanding how these cities compare with Sheldon provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheldon Tax Rate
1.08%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheldon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54766 | 0.89% | 0.97% | 1.08% | 1.17% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Sheldon, Wisconsin
In Sheldon, 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 Rusk 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. 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 Sheldon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $83,250, with tax bills ranging from $608 at the 25th percentile to $1,707 at the 90th percentile. The zip code 54766 has both the highest and lowest median tax bill at $891.
Average Sheldon Assessed Value
$83,250
Average Rusk County Assessed Value
$102,350
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheldon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54766 | $38,790 | $55,825 | $83,250 | $118,175 | $159,590 |
Source: Ownwell
Property Tax Bills Across Sheldon, Wisconsin
In Sheldon, WI, property tax bills are determined based on the assessed value of a home, which is calculated by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $83,250, homeowners can expect varying tax bills depending on their property's specific assessed value and any applicable exemptions. Several factors influence the final tax bill, including changes in property market values, local budget requirements, and any exemptions or deductions for which a homeowner may qualify. For example, the tax bill at the 25th percentile is $608, while at the 75th percentile, it rises to $1,269, and at the 90th percentile, it reaches $1,707. These figures highlight the variability in tax bills within the region. Compared to the national median property tax rate of 0.99%, homeowners in Sheldon experience tax rates that reflect local economic conditions and municipal budget needs, directly impacting their annual financial obligations.
Average Sheldon Tax Bill
$891
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheldon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54766 | $378 | $608 | $891 | $1,269 | $1,707 |
Source: Ownwell