Deer Park, Wisconsin Property Taxes
The median property tax rate in Deer Park, WI is 1.38%, which is significantly higher than the national median of 0.99% but below the Wisconsin state median of 1.58%. With a median home value of $172,600 in Deer Park, the typical annual property tax bill amounts to $2,401, which is below the national median of $2,690. Property taxes in Deer Park are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Deer Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Deer Park or another part of St. Croix County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deer Park, 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 Deer Park Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Deer Park. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Deer Park to provide an accurate estimate of your property tax bill. This tool is invaluable for understanding potential tax liabilities and planning your finances accordingly. For those interested in more detailed trends at the neighborhood level, additional localized information is available by scrolling down. Your property’s assessed value is determined by St. Croix County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Deer Park, Wisconsin
Property taxes in Deer Park, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Park is 1.38%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Deer Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Park 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 Deer Park's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54007 zip code has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Deer Park provides valuable insights into the varying tax landscape across St. Croix County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deer Park Tax Rate
1.38%
Average St. Croix County Tax Rate
1.50%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | 1.17% | 1.26% | 1.38% | 1.44% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Deer Park, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Deer Park, 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 St. Croix 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 Deer Park, 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 instance, the highest median tax bill in Deer Park is $2,401 in the 54007 zip code, which is also the lowest median 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deer Park Assessed Value
$172,600
Average St. Croix County Assessed Value
$270,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | $37,570 | $112,000 | $172,600 | $239,650 | $304,400 |
Source: Ownwell
Property Tax Bills Across Deer Park, Wisconsin
In Deer Park, located in St. Croix County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, determined by local assessors. Homeowners in Deer Park typically see a range of tax bills, reflecting the diversity in property values. For instance, the 25th percentile tax bill is around $1,554, while the 75th percentile reaches up to $3,455, and the 90th percentile can be as high as $4,346. Comparatively, the median property tax rate in Deer Park is higher than the national median of 0.99%, which means homeowners might pay more in property taxes relative to other regions. This higher tax rate can significantly impact homeowners by increasing their annual housing costs. Understanding these factors is crucial for homeowners when budgeting and planning for long-term financial stability. The highest and lowest median tax bills in the area are both $2,401, indicating some consistency in taxation within certain zip codes.
Average Deer Park Tax Bill
$2,401
Average St. Croix County Tax Bill
$3,981
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Park, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54007 | $467 | $1,554 | $2,401 | $3,455 | $4,346 |
Source: Ownwell