Nekoosa, Wisconsin Property Taxes
The median property tax rate in Nekoosa, WI is 1.51%, which is significantly higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With the median home value in Nekoosa at $118,400, the typical annual property tax bill amounts to $2,120, falling short of the national median of $2,690. Property taxes in Nekoosa are calculated based on the assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Nekoosa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Nekoosa or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nekoosa, 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 Nekoosa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nekoosa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nekoosa 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 Nekoosa, Wisconsin
Property taxes in Nekoosa, Wisconsin, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Nekoosa is 1.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Nekoosa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nekoosa 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 Nekoosa's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54457 zip code has the highest median property tax rate of 1.51%, while the same 54457 zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Nekoosa provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nekoosa Tax Rate
1.51%
Average Wood County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nekoosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54457 | 1.25% | 1.36% | 1.51% | 2.35% | 2.52% |
Source: Ownwell
Property Tax Assessment Values Across Nekoosa, Wisconsin
In Nekoosa, 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 Wood 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 Nekoosa, 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 Nekoosa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,120, found in zip code 54457.
Average Nekoosa Assessed Value
$118,400
Average Wood County Assessed Value
$143,800
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nekoosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54457 | $53,020 | $81,800 | $118,400 | $170,500 | $223,800 |
Source: Ownwell
Property Tax Bills Across Nekoosa, Wisconsin
In Nekoosa, located in Wood 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 a local assessor who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, leading to variations in tax bills. For instance, the median home price in Nekoosa is $118,400. Homeowners in the 25th percentile can expect a tax bill around $1,439, while those in the 75th percentile might see bills as high as $2,926. The highest median tax bill in the area is $2,120, reflecting the variability in tax responsibilities. Compared to the national median property tax rate of 0.99%, Nekoosa's tax rates can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly.
Average Nekoosa Tax Bill
$2,120
Average Wood County Tax Bill
$2,331
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Nekoosa, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54457 | $804 | $1,439 | $2,120 | $2,926 | $3,899 |
Source: Ownwell