Knapp, Wisconsin Property Taxes
The median property tax rate in Knapp, WI is 1.63%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Knapp, the typical annual property tax bill reaches $2,604, slightly below the national median of $2,690. Property taxes in Knapp 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 Knapp'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 Knapp or another part of St. Croix County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Knapp, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$2,996
Ownwell’s Knapp Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Knapp with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Knapp to project your property tax bill. This valuable tool provides clarity on potential tax obligations. For those interested in more granular insights, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Knapp, Wisconsin
Property taxes in Knapp, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knapp is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within Knapp set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knapp 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 Knapp's effective property tax rate to other areas in St. Croix County and the national median. For comparison, the zip code 54749 has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these areas compare with Knapp 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 Knapp Tax Rate
1.63%
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 Knapp, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54749 | 1.07% | 1.25% | 1.63% | 1.71% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Knapp, Wisconsin
In Knapp, 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 St. Croix 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 Knapp, 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 Knapp helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54749 has the highest median tax bill at $2,604, offering a useful benchmark for residents.
Average Knapp Assessed Value
$183,800
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 Knapp, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54749 | $52,960 | $108,600 | $183,800 | $278,500 | $342,180 |
Source: Ownwell
Property Tax Bills Across Knapp, Wisconsin
Property tax bills in Knapp, located in St. Croix County, WI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value, typically determined by a local assessor. Various factors influence this assessment, including the property's size, location, and condition. In Knapp, the median home price is $183,800. Homeowners in the 25th percentile can expect tax bills around $1,539, while those in the 75th percentile might see bills as high as $4,056. The 90th percentile tax bills can reach up to $5,285. These figures indicate a range of tax liabilities, reflecting the diversity in property values within the area. Compared to the national median property tax rate of 0.99%, Knapp's property tax rates can significantly impact homeowners' annual expenses. Higher property values generally lead to higher tax bills, affecting overall affordability and financial planning for residents.
Average Knapp Tax Bill
$2,604
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 Knapp, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54749 | $660 | $1,539 | $2,604 | $4,056 | $5,285 |
Source: Ownwell