54555 Property Tax Rate

Property owners in ZIP code 54555 (Phillips, Wisconsin) pay a median of $2,458/year in property taxes on homes valued at $172,900. This translates to an effective tax rate of 1.42%, which is near the Wisconsin state average of 1.40%.

The monthly property tax burden for a median-valued home in 54555 is approximately $205, which factors into escrow payments on mortgages. This ZIP code is located within Price County. This is $741 less than the Wisconsin average of $3,199/year.

Compared to similar ZIP codes in Wisconsin, 54555 has lower property taxes. ZIP codes with similar effective rates include 53073 (1.42%) and 53810 (1.42%).

In Phillips, property taxes represent approximately 4.2% of the median household income of $58,613, providing context for the relative tax burden on homeowners in this area.

Wisconsin reassesses all property annually without a state cap, but primary residences qualify for the Homestead Credit — an income-based reduction that typically saves Price County homeowners $100–$300 per year. Apply for homestead credit with the Price County Assessor immediately after purchase to ensure the reduction appears on your first tax bill. Contact the Price County Assessor within 30 days if your assessment increased sharply from the previous owner's value, requesting a property inspection and value review.