County Sales Tax Calculator and Worksheet

Contributed by: Anonymous
Winnebago County Sales Tax Calculator and Worksheet
How will it affect me?
Enter the Assessed Value of Your Home:
Enter Your Yearly Household Income:

You will SAVE $- in county property tax over this budget.
You will PAY $- in county sales tax over this budget.

You will BREAK EVEN on the County Sales Tax
$-

You will BREAK EVEN in the first year
$-
You BREAK EVEN in the second year
$-


Here's the Math:
Sales Tax Paid
Estimated amount of sales tax paid is calculated by the State of Wisconsin as a factor of 40% of your net household income
For the purposes of this exercise we used net income as 75% of gross. In reality it is probably less, and your sales tax paid would be less.
This amount is multiplied by $0.005 for the sales tax paid.
If passed, the tax would not kick in until April 1st, so we are looking at only 9 months of collection the first year.

Property Tax Savings
The resolution for the sales tax specifically states that there will be property tax savings - $0.40 per $1,000 in year 1 and $0.70 per $1,000 in the second. This will drop the rate from $5.67 to $4.77 per $1,000 of the homes value.