Example of Marathon County Property Tax Calculation
Marathon County calculates property taxes based on the assessed value, or estimated market value, of a property. The county assesses properties every year to determine their value, and then applies a tax rate to that value to determine the property's tax liability.
For example, if a property in Marathon County has an assessed value of $100,000 and the tax rate for the area is 1%, the property tax liability would be $1,000 per year. This tax liability may be paid in installments throughout the year, or in one lump sum.
It's important to note that tax rates and assessments can vary depending on the location and type of property. Property owners in Marathon County should consult with their local assessor or tax office for specific information regarding their property taxes.
If you want appeal your property tax assessment - contact your local tax assessor.
Marathon County Property Tax Rates
The following table lists the Marathon County Property Tax rates per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| General Fund | $2.48 |
| Technical Education | $0.26 |
| County Veterans | $0.03 |
| County Library | $0.22 |
| County Fair | $0.02 |
| County Extension | $0.07 |
| North Central Health Care | $0.58 |
| Debt Service | $0.55 |
These rates are subject to change based on the current budget and any changes made by the county board. It's important to consult with a tax professional for personalized advice on property taxes.
Who sets property tax rates in Marathon County ?
Marathon County property tax rates are set by the local government, specifically the Marathon County Board of Supervisors. This board is elected by the citizens of the county and is responsible for making decisions regarding the county's budget and taxation.
The property tax rates in Marathon County are typically set annually, during the budget approval process. This process takes place in the fall, with the new rates taking effect on January 1st of the following year. Property owners in the county receive their tax bills in December, based on the new rates.
It is important to note that property taxes in Marathon County are based on the assessed value of the property. The county's assessor's office is responsible for determining this value, which is used to calculate the amount of property tax owed.
Overall, Marathon County property tax rates are set by the elected officials who represent the citizens of the county. Property owners can expect to see changes in these rates from year to year, depending on the county's budget needs and fiscal situation.
Homestead exemptions in Marathon County ?
To help homeowners in Marathon County, Wisconsin, the county government has established several Homestead exemptions and deductions. These exemptions and deductions are designed to reduce property taxes for eligible homeowners. Here are the details of all the county-specific Homestead exemptions and deductions:
Table of Homestead Exemptions and Deductions
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners who use their property as their primary residence | $25,000 | Reduces the assessed value of the property |
| Veteran's Exemption | Eligible veterans or their surviving spouses who use the property as their primary residence | $12,000 | Must have served in the military for at least 90 days during a wartime period |
| Disabled Veteran's Exemption | Eligible disabled veterans or their surviving spouses who use the property as their primary residence | $50,000 | Must have a service-connected disability of at least 70% |
| First Dollar Credit | All homeowners who use their property as their primary residence and have a household income below $24,680 | Up to $87 | Provides a credit for the first $5,000 of the property's value |
| Lottery and Gaming Credit | All homeowners who use their property as their primary residence | Up to $150 | Provides a credit for property taxes related to lottery and gaming in the state |
Note: All exemptions and deductions are subject to change based on state and county laws.
By taking advantage of these Homestead exemptions and deductions, eligible homeowners can significantly reduce their property taxes. Homeowners are encouraged to check with the Marathon County government to determine if they qualify for any of these exemptions or deductions.
When is Marathon County Property Tax due ?
According to Marathon County Treasurer's Office, the property tax is typically due on January 31st of each year. However, if the due date falls on a weekend or holiday, the payment can be made on the next business day without penalty.
Payment methods accepted by the Marathon County Treasurer's Office include:
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Mail: Property owners can mail the payment to the address listed on their tax bill. The payment must be postmarked by the due date to avoid late fees.
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In-person: Property owners can make a payment in person at the Treasurer's Office located in the Marathon County Courthouse. The office is open Monday through Friday from 8:00 am to 4:30 pm.
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Online: Property owners can pay their taxes online using a credit card or electronic check. A convenience fee will be charged for this service.
Late payments are subject to penalty and interest charges. Property owners should contact the Treasurer's Office if they are unable to make their payment by the due date to discuss payment arrangements.
Overall, property owners in Marathon County have multiple payment options for their property taxes, including mail, in-person, and online payments.
If you have more questions - contact your local tax collector.
How is Marathon County Property Tax penalty calculated ?
Marathon County Property Tax Penalty Calculation
Marathon County in Wisconsin levies a penalty on delinquent property taxes. The penalty is calculated as a percentage of the unpaid tax amount and accrues on a monthly basis. Here is an example to help you understand the calculation of the penalty:
Suppose a property owner owes $2,000 in property taxes for the year 2020 in Marathon County. The due date for payment is January 31, 2021. If the property owner fails to pay the taxes by the due date, a penalty of 0.5% will be added to the unpaid balance for February 2021. The penalty will continue to accrue on a monthly basis until the taxes are paid in full.
Here is a breakdown of the penalty calculation for the first six months of delinquency:
| Month | Unpaid Balance | Penalty Rate | Penalty Amount | Total Due |
|---|---|---|---|---|
| Feb | $2,000 | 0.5% | $10 | $2,010 |
| Mar | $2,010 | 0.5% | $10.05 | $2,020.05 |
| Apr | $2,020.05 | 0.5% | $10.10 | $2,030.15 |
| May | $2,030.15 | 0.5% | $10.15 | $2,040.30 |
| Jun | $2,040.30 | 0.5% | $10.20 | $2,050.50 |
| Jul | $2,050.50 | 0.5% | $10.25 | $2,060.75 |
As you can see, the penalty increases with each month of delinquency. It is important to pay property taxes on time to avoid penalties and interest charges. Property owners in Marathon County can pay their taxes online, by mail, or in person at the county treasurer's office.
In summary, the Marathon County Property Tax Penalty is calculated as a percentage of the unpaid tax amount and accrues monthly until the taxes are paid in full. It is important to pay taxes on time to avoid penalties and interest charges.
We recommend contacting the Marathon County Tax Office or a local tax professional for the most up-to-date and accurate information.