54547 Property Tax Rate

Property owners in ZIP code 54547 (Mercer, Wisconsin) pay a median of $2,762/year in property taxes on homes valued at $278,500. This translates to an effective tax rate of 0.99%, which is 29% below the Wisconsin state average of 1.40%.

The monthly property tax burden for a median-valued home in 54547 is approximately $230, which factors into escrow payments on mortgages. This ZIP code is located within Iron County. This is $437 less than the Wisconsin average of $3,199/year.

Compared to similar ZIP codes in Wisconsin, 54547 has lower property taxes. ZIP codes with similar effective rates include 54865 (0.99%) and 54828 (1.00%).

In Mercer, property taxes represent approximately 4.5% of the median household income of $60,795, providing context for the relative tax burden on homeowners in this area.

Wisconsin reassesses all property annually without a state cap, but Iron County homeowners benefit from the Homestead Credit — an income-based reduction that provides $100–$300+ in annual tax savings for primary residences. Register for homestead credit with the Iron County Assessor within 30 days of purchase to ensure the reduction is applied to your first tax bill. File a formal assessment challenge with the Iron County Assessor (typically within 30 days of the assessment notice) if your home's assessed value exceeds recent comparable sales by 10% or more.