Melrose, Wisconsin Property Taxes
The median property tax rate in Melrose, WI is 1.55%, which is considerably higher than the national median of 0.99%, yet slightly below the Wisconsin state median of 1.58%. With a median home value of $234,200 in Melrose, the typical annual property tax bill reaches $3,799, significantly exceeding the national median of $2,690. Property taxes in Melrose 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 Melrose'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 Melrose or another part of Trempealeau County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Melrose, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$3,630
$3,369
Ownwell’s Melrose Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Melrose using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Melrose 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 Melrose, Wisconsin
Property taxes in Melrose, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Melrose is 1.55%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Melrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Melrose 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 Melrose's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54642 zip code has both the highest and lowest median property tax rate of 1.55%. Understanding how these cities compare with Melrose provides valuable insights into the varying tax landscape across Trempealeau County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Melrose Tax Rate
1.55%
Average Trempealeau County Tax Rate
1.65%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | 1.47% | 1.50% | 1.55% | 1.61% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Melrose, Wisconsin
In Melrose, 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 Trempealeau 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 Melrose, 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 Melrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 54642 has the highest median tax bill at $3,799, which is significantly above the national median property tax rate of 0.99%. The same zip code also has the lowest median tax bill, reflecting the variability in property tax burdens within the area.
Average Melrose Assessed Value
$234,200
Average Trempealeau County Assessed Value
$169,050
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | $103,300 | $160,100 | $234,200 | $360,100 | $487,400 |
Source: Ownwell
Property Tax Bills Across Melrose, Wisconsin
In Melrose, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value. This assessed value is then multiplied by the tax rate set by local government entities, which include county, city, and school districts. For homeowners in Melrose, the median home price is $234,200. Tax bills can vary significantly, with the 25th percentile paying around $2,400, while those in the 75th percentile face bills closer to $5,589. At the 90th percentile, homeowners might see tax bills as high as $7,620. These property taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Melrose's rates can lead to substantial annual costs for homeowners, affecting their overall financial planning and housing affordability.
Average Melrose Tax Bill
$3,799
Average Trempealeau County Tax Bill
$2,894
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Melrose, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54642 | $1,465 | $2,400 | $3,799 | $5,589 | $7,620 |
Source: Ownwell