Port Edwards, Wisconsin Property Taxes
The median property tax rate in Port Edwards, WI is 2.14%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Port Edwards at $125,850, the typical annual property tax bill reaches $2,636, slightly exceeding the national median of $2,690. Property taxes in Port Edwards 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 Port Edwards'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 Port Edwards 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
Port Edwards, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$2,693
$2,499
Ownwell’s Port Edwards Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Edwards with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Edwards 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 Port Edwards, Wisconsin
Property taxes in Port Edwards, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Edwards is 1.83%, significantly higher than both the Wisconsin state median of 1.68% and the U.S. national median of 0.99%. Local government entities within Port Edwards set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Edwards 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 Port Edwards' effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54469 zip code has the highest median property tax rate of 2.14%, while the same 54469 zip code also has the lowest median tax rate of 2.14%. Understanding how these cities compare with Port Edwards 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 Port Edwards Tax Rate
2.14%
Average Wood County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Edwards, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54469 | 1.96% | 2.06% | 2.14% | 2.21% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Port Edwards, Wisconsin
In Port Edwards, 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. 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. The median home price in Port Edwards is $125,850, with tax bills ranging from $2,026 at the 25th percentile to $4,708 at the 90th percentile. The highest and lowest median tax bill in the area is $2,636, found in the 54469 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Port Edwards Assessed Value
$125,850
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 Port Edwards, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54469 | $74,720 | $97,850 | $125,850 | $166,050 | $216,190 |
Source: Ownwell
Property Tax Bills Across Port Edwards, Wisconsin
In Port Edwards, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including property size, location, and market conditions. For homeowners in Port Edwards, the median home price is $125,850. This translates to a range of property tax bills, with the 25th percentile at $2,026 and the 75th percentile at $3,543. At the 90th percentile, tax bills can reach up to $4,708. These figures highlight the significant impact property taxes have on household finances, especially when compared to the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and plan their budgets accordingly.
Average Port Edwards Tax Bill
$2,636
Average Wood County Tax Bill
$2,331
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Edwards, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54469 | $1,474 | $2,026 | $2,636 | $3,543 | $4,708 |
Source: Ownwell