Spring Valley, Wisconsin Property Taxes
The median property tax rate in Spring Valley, WI is 1.68%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Spring Valley, the typical annual property tax bill reaches $2,787, slightly above the national median of $2,690. Property taxes in Spring Valley 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 Spring Valley'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 Spring Valley 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
Spring Valley, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.68%
Estimate Property Tax Bill
$2,759
$2,560
Ownwell’s Spring Valley Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers in Spring Valley, WI. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Spring Valley to provide an estimate of your annual property tax bill. This easy-to-use tool offers a clear understanding of your potential tax liabilities, helping you plan and budget more effectively. For those interested in more detailed insights, localized trends at the neighborhood level are available further down the page. Your property's assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Spring Valley, Wisconsin
Property taxes in Spring Valley, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Valley is 1.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within Spring Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Valley 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 Spring Valley's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54767 has the highest median property tax rate of 1.68%, while the same zip code also has the lowest median tax rate of 1.68%. Understanding how these areas compare with Spring Valley 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 Spring Valley Tax Rate
1.68%
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 Spring Valley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54767 | 1.48% | 1.57% | 1.68% | 1.76% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Spring Valley, Wisconsin
In Spring Valley, 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 Spring Valley, 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 Spring Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Spring Valley is $2,787, both occurring in the 54767 zip code.
Property Tax Assessment Values Across Spring Valley, Wisconsin
Source: Ownwell
$151,900
$284,225
$416,550
Average Spring Valley Assessed Value
$164,200
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 Spring Valley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54767 | $60,940 | $124,100 | $164,200 | $240,800 | $328,960 |
Source: Ownwell
Property Tax Bills Across Spring Valley, Wisconsin
In Spring Valley, WI, 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 determine the annual tax bill. For homeowners in Spring Valley, the median home price is $164,200. Factors such as property size, location, and improvements play a significant role in determining the assessed value. Homeowners in the 25th percentile of tax bills pay around $1,959 annually, while those in the 75th percentile pay up to $4,281. For the top 10% of tax bills, the amount can reach $5,674. Compared to the national median property tax rate of 0.99%, Spring Valley's tax rates can result in a substantial financial commitment for homeowners. These tax bills fund essential local services like schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding how these factors come together helps homeowners anticipate their financial responsibilities.
Average Spring Valley Tax Bill
$2,787
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 Spring Valley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54767 | $814 | $1,959 | $2,787 | $4,281 | $5,674 |
Source: Ownwell