Mercer, Iron County, Wisconsin Property Taxes
Property Taxes in Mercer, Wisconsin
Median Mercer, Wisconsin effective property tax rate: 1.04%, significantly lower than the national median of 1.02%, and lower than the Wisconsin state median of 1.43%.
Median Mercer, Wisconsin home value: $225,747
Median annual Mercer, Wisconsin tax bill: $2,393, $7 lower than the national median property tax bill of $2,400.
How are property taxes in Iron calculated?
Property taxes in Mercer, Wisconsin are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Mercer's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mercer, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Mercer, Iron County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.04%
Estimate Property Tax Bill
$2,348
$2,179
How Does the Mercer Property Tax Calculator Work?
Use this Mercer property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value, and our calculator applies Mercer’s median effective tax rate of 1.04% — based on actual property records in Iron County — to generate your estimate.
Enter your property’s estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home’s market value. Our calculator applies Mercer’s median effective rate across local levies, giving a more accurate estimate than using a single county millage rate.
Mercer’s rate is higher than Wisconsin’s 1.43% median tax rate and higher than Iron County’s median tax rate. The median property tax bill is $2,393, which is $7 lower than the state median bill.
Your bill may vary by ZIP code within Mercer, but the available data shows the same median bill of $2,393 in 54547. For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Mercer.
About Mercer Property Taxes
About Property Taxes in Mercer, Iron, Wisconsin
Mercer’s median effective property tax rate of 1.04% is lower than the Wisconsin state median of 1.43% and higher than the national median of 1.02%. This rate reflects the Iron County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Mercer. Homeowners in the 54547 ZIP code carry a median effective rate of 1.04%, while those in the same ZIP code also pay 1.04%. This spread — 0 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Iron County. Understanding which part of Mercer you live in can make a meaningful difference to your annual tax bill.
Mercer homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 22, 2025 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Mercer, Iron County, Wisconsin
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Mercer’s effective property tax rate to other cities in Wisconsin and the median property tax rates in Wisconsin and the U.S.
Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Mercer Tax Rate
1.04%
Our median effective property tax rate (tax bill Ă· assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Iron County Tax Rate
1.15%
Median Effective Wisconsin Tax Rate
1.43%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mercer, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54547 | 1.04% | 1.04% | 1.04% | 1.04% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Mercer, Iron County, Wisconsin
When examining property taxes in Mercer, Wisconsin, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Iron County estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Iron County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Mercer.
For example, the median home price in Mercer is $225,747, with tax bills ranging significantly across the county. 54547 has the highest median home price at $225,747.
Property Tax Assessment Values Across Mercer, Iron County, Wisconsin
Source: Ownwell
$45,670
$157,514
$269,358
Median Mercer Market Value
$225,747
Median Iron County Market Value
$130,190
Median Wisconsin Market Value
$237,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mercer, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54547 | $84,014 | $135,320 | $225,747 | $340,545 | $470,863 |
Source: Ownwell
Property Tax Bills Across Mercer, Iron County, Wisconsin
How are property tax bills calculated in Mercer?
Property tax bills in Mercer are based on the assessed value of a home and the local tax rate set by taxing authorities. The assessed value is compared with the market value of the property, and that figure is used to determine how much tax is owed. For Mercer homeowners, the median home price is $225,747, which helps show the property values that can influence tax bills.
What factors affect the bill?
Several factors shape the final amount, including the home’s assessed value, local budgets, and any exemptions that may apply. In Mercer, the 25th percentile tax bill is $1,451, the 75th percentile tax bill is $3,583, and the 90th percentile tax bill is $4,957. The median tax bill is $2,393, which is slightly below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
How does this affect homeowners?
Because tax bills can vary widely, homeowners with similar properties may still pay different amounts. That makes it important to understand how assessed value and local tax rates work together.
Median Mercer Tax Bill
$2,393
Median Iron County Tax Bill
$1,646
Median Wisconsin Tax Bill
$3,453
Median United States Tax Bill
$2,400
Property Tax Bills Across Mercer, Iron County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54547 | $897 | $1,451 | $2,393 | $3,583 | $4,957 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 22 |
Links | |
|---|---|
| Iron Tax Assessor | |
| Website | ascent.ironcountywi.org |