Trego, Wisconsin Property Taxes
The median property tax rate in Trego, WI is 1.20%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Trego at $334,750, the typical annual property tax bill reaches $4,052, exceeding the national median of $2,690. Property taxes in Trego 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 Trego'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 Trego 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
Trego, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$4,017
Ownwell’s TREGO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TREGO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TREGO 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 Trego, Wisconsin
Property taxes in Trego, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trego is 1.05%, slightly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Trego set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trego 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 Trego's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54888 zip code has the highest median property tax rate of 1.05%, while the same 54888 zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Trego provides valuable insights into the varying tax landscape across Washburn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trego Tax Rate
1.20%
Average Washburn County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54888 | 1.16% | 1.16% | 1.20% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Trego, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Trego, 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 Washburn 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 Trego, 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 median home price stands at $334,750, with tax bills ranging from $2,517 at the 25th percentile to $5,535 at the 75th percentile. 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 Trego helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Trego Assessed Value
$334,750
Average Washburn County Assessed Value
$126,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54888 | $204,970 | $217,075 | $334,750 | $447,875 | $451,790 |
Source: Ownwell
Property Tax Bills Across Trego, Wisconsin
In Trego, Washburn County, 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 county assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and improvements. For instance, the median home price in Trego is $334,750, resulting in a median tax bill. Homeowners in the 25th percentile pay around $2,517, while those in the 75th percentile pay approximately $5,535. At the 90th percentile, the tax bill reaches $5,584. Compared to the national median property tax rate of 0.99%, Trego's property tax bills can significantly impact homeowners, especially those with higher-valued properties. Understanding these factors can help homeowners anticipate their tax obligations and manage their finances accordingly.
Average Trego Tax Bill
$4,052
Average Washburn County Tax Bill
$1,472
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Trego, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54888 | $2,377 | $2,517 | $4,052 | $5,535 | $5,584 |
Source: Ownwell