Two Rivers, Manitowoc County, Wisconsin Property Taxes
Property Taxes in Two Rivers, Wisconsin
Median Two Rivers, Wisconsin effective property tax rate: 1.50%, significantly higher than the national median of 1.02%, and higher than the Wisconsin state median of 1.43%.
Median Two Rivers, Wisconsin home value: $131,100
Median annual Two Rivers, Wisconsin tax bill: $1,908, $492 lower than the national median property tax bill of $2,400.
How are property taxes in Manitowoc calculated?
Property taxes in Two Rivers, 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 Two Rivers's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Two Rivers, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Two Rivers, Manitowoc County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.5%
Estimate Property Tax Bill
$1,967
$1,825
How Does the Two Rivers Property Tax Calculator Work?
Use this Two Rivers property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Two Rivers's median effective tax rate of 1.50% — based on actual property records in Manitowoc County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Two Rivers's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Two Rivers: rates range from 1.50% in 54241 to 1.50% in 54241, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Two Rivers.
About Two Rivers Property Taxes
About Property Taxes in Two Rivers, Manitowoc, Wisconsin
Two Rivers' median effective property tax rate of 1.50% is higher than the Wisconsin state median of 1.43% and higher than the national median of 1.02%. This rate reflects the Manitowoc 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 Two Rivers. Homeowners in the 54241 ZIP code carry a median effective rate of 1.50%, while those in 54241 pay 1.50%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Manitowoc County. Understanding which part of Two Rivers you live in can make a meaningful difference to your annual tax bill.
Two Rivers homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 25, 2026 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 Two Rivers, Manitowoc 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 Two Rivers'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 ÷ 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 Two Rivers Tax Rate
1.50%
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 Manitowoc County Tax Rate
1.41%
Median Effective Wisconsin Tax Rate
1.43%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Two Rivers, Manitowoc County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54241 | 1.02% | 1.20% | 1.50% | 1.63% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Two Rivers, Manitowoc County, Wisconsin
When examining property taxes in Two Rivers, 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 Manitowoc County assessor 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 are sent in the spring each year and typically reach your mailbox by the middle of the month. 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.
For example, the median home price in Two Rivers is $131,100, with a median tax bill of $1,908. That is below the national median property tax bill of $2,400.
Property Tax Assessment Values Across Two Rivers, Manitowoc County, Wisconsin
Source: Ownwell
$131,100
$235,838
$340,576
Median Two Rivers Market Value
$131,100
Median Manitowoc County Market Value
$168,126
Median Wisconsin Market Value
$237,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Two Rivers, Manitowoc County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54241 | $65,172 | $95,100 | $131,100 | $192,197 | $273,042 |
Source: Ownwell
Property Tax Bills Across Two Rivers, Manitowoc County, Wisconsin
Property tax bills in Two Rivers are based on the assessed value of a home and the local tax rate set by the city, county, and other taxing districts. When a home’s market value is translated into an assessed value, that number is used to calculate the tax bill. For a home with a median price of $131,100, the resulting bill can vary depending on exemptions, local levies, and how the property is classified.
What homeowners pay can differ widely even within the same area. In Two Rivers, the 25th percentile tax bill is $1,394, while the 75th percentile is $2,660 and the 90th percentile reaches $3,710. The median tax bill in ZIP code 54241 is $1,908, which is below the national median property tax bill of $2,400. For homeowners, this means property taxes can have a meaningful impact on annual housing costs, especially when assessed values or tax rates rise.
Median Two Rivers Tax Bill
$1,908
Median Manitowoc County Tax Bill
$2,281
Median Wisconsin Tax Bill
$3,453
Median United States Tax Bill
$2,400
Property Tax Bills Across Two Rivers, Manitowoc County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54241 | $869 | $1,394 | $1,908 | $2,660 | $3,710 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 4 |
Links | |
|---|---|
| Manitowoc Tax Assessor | |
| Website | ascent.co.manitowoc.wi.us |