Cumberland, Wisconsin Property Taxes
The median property tax rate in Cumberland, WI is 1.15%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Cumberland at $212,550, the typical annual property tax bill is $2,662, slightly below the national median of $2,690. Property taxes in Cumberland are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Cumberland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cumberland or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cumberland, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Cumberland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cumberland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cumberland to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cumberland, Wisconsin
Property taxes in Cumberland, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cumberland is 1.15%, which is higher than the U.S. national median of 0.99%. Local government entities within Cumberland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cumberland estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Cumberland's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54829 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with Cumberland provides valuable insights into the varying tax landscape across Barron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cumberland Tax Rate
1.15%
Average Barron County Tax Rate
1.25%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cumberland, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54829 | 1.00% | 1.08% | 1.15% | 1.54% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Cumberland, Wisconsin
In Cumberland, Wisconsin, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Barron County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Cumberland, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. Cumberland's median home price is $212,550, with property tax bills ranging from $1,697 at the 25th percentile to $6,240 at the 90th percentile. The zip code with the highest and lowest median tax bill is 54829, both at $2,662. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Cumberland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cumberland Assessed Value
$212,550
Average Barron County Assessed Value
$176,200
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cumberland, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54829 | $83,320 | $137,000 | $212,550 | $342,125 | $489,500 |
Source: Ownwell
Property Tax Bills Across Cumberland, Wisconsin
In Cumberland, located in Barron County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $212,550, homeowners can expect varying tax bills depending on the specific assessed value and applicable tax rate. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions. Homeowners in Cumberland might see tax bills ranging from $1,697 at the 25th percentile to $6,240 at the 90th percentile, highlighting significant variability based on property specifics. Compared to the national median property tax rate of 0.99%, Cumberland's tax rates can significantly impact homeowners' financial planning. High tax bills, like those reaching $4,190 at the 75th percentile, can be a considerable expense, making it essential for homeowners to understand how their property is assessed and the resulting tax obligations.
Average Cumberland Tax Bill
$2,662
Average Barron County Tax Bill
$2,341
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Cumberland, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54829 | $1,041 | $1,697 | $2,662 | $4,190 | $6,240 |
Source: Ownwell