Tomahawk, Lincoln County, Wisconsin Property Taxes
Median Tomahawk, WI effective property tax rate: 1.12%, significantly higher than the national median of 1.02%, but lower than the Wisconsin state median of 1.58%.
Median Tomahawk, WI home value: $183,800
Median annual Tomahawk, WI tax bill: $2,278, $122 lower than the national median property tax bill of $2,400.
How are property taxes in Lincoln County calculated?
Property taxes in Tomahawk, WI 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 Tomahawk’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tomahawk, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Tomahawk, Lincoln County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.12%
Estimate Property Tax Bill
$2,059
$1,910
Property Tax Rates Across Tomahawk, Lincoln County, Wisconsin
Local government entities set tax rates, which can vary widely within a state. 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.
Tomahawk in Lincoln County, WI, has an effective property tax rate that aligns with the median property tax rate in Wisconsin, which stands at 1.12%. This is slightly above the national median property tax rate of 1.02%. Residents of Tomahawk, with the zip code 54487, experience this rate, which is consistent across the area, making it neither the highest nor the lowest within the state.
When compared to the national median property tax bill of $2,400, the property tax obligations in Tomahawk reflect the local government’s budgetary requirements and the total assessed value of properties. Understanding these rates can help property owners in Tomahawk anticipate their tax responsibilities and plan accordingly.
Our median effective property tax rate (tax bill ÷ 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 Tomahawk Tax Rate
1.12%
Our median effective property tax rate (tax bill ÷ 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 Lincoln County Tax Rate
1.15%
Median Effective Wisconsin Tax Rate
1.58%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Tomahawk, Lincoln County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54487 | 0.98% | 1.05% | 1.12% | 1.46% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Tomahawk, Lincoln County, Wisconsin
When examining property taxes in Tomahawk, WI, 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 Lincoln County appraisal district 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.
In Lincoln County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Tomahawk. For example, the median home price in Tomahawk is $183,800, with tax bills ranging significantly across the county. 54487 has the highest median home price at $183,800.
Property Tax Assessment Values Across Tomahawk, Lincoln County, Wisconsin
Source: Ownwell
$137,900
$177,725
$217,550
Median Tomahawk Market Value
$183,800
Median Lincoln County Market Value
$156,400
Median Wisconsin Market Value
$200,300
Median United States Market Value
$235,294
Property Tax Assessment Values Across Tomahawk, Lincoln County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54487 | $77,900 | $118,500 | $183,800 | $271,100 | $364,300 |
Source: Ownwell
Property Tax Bills Across Tomahawk, Lincoln County, Wisconsin
In Tomahawk, located in Lincoln County, WI, property tax bills are determined by assessing the property's value and applying the local tax rate. The median home price in Tomahawk is $183,800, which influences the assessed value used to calculate the tax bill. The tax bill can vary significantly, with the 25th percentile at $1,520 and the 75th percentile reaching $3,236. At the 90th percentile, it rises to $4,362, indicating a wide range based on property values and applicable rates. This amount is slightly below the national median property tax bill of $2,400, reflecting the local economic conditions and property values.
Homeowners in Tomahawk can face substantial tax burdens, especially if their property's assessed value increases. This is where Ownwell can provide valuable assistance. By offering expert property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax bills. Our experienced consultants analyze your property's assessment and identify opportunities for savings, ensuring you only pay your fair share. Partnering with Ownwell can lead to significant financial relief for homeowners in Tomahawk.
Median Tomahawk Tax Bill
$2,278
Median Lincoln County Tax Bill
$2,035
Median Wisconsin Tax Bill
$3,346
Median United States Tax Bill
$2,400
Property Tax Bills Across Tomahawk, Lincoln County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54487 | $1,005 | $1,520 | $2,278 | $3,236 | $4,362 |
Source: Ownwell