Property Tax Overview

Property Tax Overview

Property Tax Overview
There are two basic components to the property tax: the tax base and the tax rate. Multiplying the base times the rate, determines the tax amount.

Property Tax Base
The property tax base is the total value of all taxable property in the district. The Village Assessor is responsible for assessing and recording all real property (excluding manufacturing) within the Village, which includes approximately 4,400 parcels, and the State of Wisconsin Department of Revenue assesses all manufacturing property. Together, manufacturing property, personal property and real estate property, represent the total value of the Village. Your property's assessed value represents a portion of the total Village assessed value and determines your portion of the local property tax levy.  The property tax base is reviewed, updated and annually re-certified to the state.

Property Tax Rate
The Treasurer calculates the tax rate after the Village Board determines the annual property tax levy, which is how much money must be raised through the property tax in order to provide Village services. The tax rate is determined by dividing the total amount of the levy by the total assessed value of the municipality (the tax base). The tax rate is often expressed in terms of dollars per thousand (also known as the mill rate – a mill is one one-thousandth of a dollar and in property tax terms is equal to $1.00 of tax for each $1,000 of assessment).

The Village’s tax rate is combined with the rates of our other taxing jurisdictions, including Marathon County, D.C. Everest or Mosinee School District, and Northcentral Technical College, to create a gross tax rate.  The State's School Levy Tax Credit is applied to every taxable property in the Village, reducing the gross tax rate. In 2020 the net tax rate, or mill rate, for parcels in the D.C. Everest School District is $21.83 for every $1,000 of assessed valued; for parcels in the Mosinee School District, the mill rate is $20.58 for every $1,000 of assessed value.
Tax Summary

Tax Amount
To calculate your net property tax, you’ll divide your total assessed value for your property by $1,000, and multiply that number by the net tax rate of your combined taxing jurisdictions. For example, the net tax on a $150,000 property in the D.C. Everest School District would be: $150,000 divided by $1,000, multiplied by $21.83, which equals $3,273.77. In the Mosinee School District, the net tax would be: $150,000 divided by $1,000, multiplied by $20.58, which equals $3,086.87. If you qualify for tax credits, those will reduce your tax liability.

Your tax bill does the calculation for you and breaks out the tax amount for each taxing jurisdiction so you can see exactly what portion of your tax bill goes to the County, State, Village, School and Technical College.  The tax bill also show the total tax levy for each taxing jurisdiction, so you can see your contribution to the taxing jurisdiction’s total levy.

Additional Resources