Coloma, Wisconsin Property Taxes
The median property tax rate in Coloma, WI is 1.24%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Coloma, the typical annual property tax bill reaches $2,018, exceeding the national median of $2,690. Property taxes in Coloma 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 Coloma'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 Coloma 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
Coloma, 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 Coloma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coloma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coloma 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 Waushara County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Coloma, Wisconsin
Property taxes in Coloma, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coloma is 1.24%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Coloma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coloma 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 Coloma's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54930 zip code has the highest median property tax rate of 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Coloma provides valuable insights into the varying tax landscape across Waushara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coloma Tax Rate
1.24%
Average Waushara County Tax Rate
1.26%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | 1.14% | 1.22% | 1.24% | 1.82% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Coloma, Wisconsin
In Coloma, 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 Waushara 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 Coloma, 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. For instance, the median home price in Coloma is $121,300, with tax bills ranging from $857 at the 25th percentile to $3,359 at the 90th percentile. Notably, the highest and lowest median tax bills are both $2,018 in the 54930 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coloma Assessed Value
$121,300
Average Waushara County Assessed Value
$163,950
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $26,300 | $55,800 | $121,300 | $248,800 | $258,800 |
Source: Ownwell
Property Tax Bills Across Coloma, Wisconsin
In Coloma, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Coloma is $121,300. Property tax bills can vary significantly, with the 25th percentile tax bill at $857 and the 75th percentile reaching $3,095. The highest tax bill recorded is $3,359. These variations occur due to differences in property values and the specific tax rates applied by local taxing authorities. Homeowners in Coloma can compare their tax rates to the national median property tax rate of 0.99%. The local tax rate and assessed property value directly influence the final tax bill, impacting homeowners' annual financial obligations. Understanding these factors helps homeowners anticipate their expenses and plan accordingly. In Waushara County, where Coloma is located, the median tax bill stands at $2,018, which provides a benchmark for residents to gauge their individual tax responsibilities.
Average Coloma Tax Bill
$2,018
Average Waushara County Tax Bill
$2,143
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Coloma, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54930 | $379 | $857 | $2,018 | $3,095 | $3,359 |
Source: Ownwell