Mikana, Wisconsin Property Taxes
The median property tax rate in Mikana, WI is 1.30%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Mikana at $175,500, the typical annual property tax bill amounts to $2,243, falling below the national median of $2,690. Property taxes in Mikana are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Mikana'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 Mikana or another part of Barron County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mikana, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,282
Ownwell’s Mikana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mikana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mikana 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 Mikana, Wisconsin
Property taxes in Mikana, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mikana is 1.30%, which is higher than the U.S. national median of 0.99%. Local government entities within Mikana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mikana 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 Mikana's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54857 zip code has the highest median property tax rate of 1.30%, while the 54857 zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Mikana 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 Mikana Tax Rate
1.30%
Average Barron County Tax Rate
1.25%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mikana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54857 | 1.00% | 1.14% | 1.30% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Mikana, Wisconsin
In Mikana, 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 Appraisal District 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 Mikana, 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. By understanding the distinction between 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 Mikana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54857 has the highest and lowest median tax bill, both at $2,243, highlighting the variability in tax burdens within the area.
Average Mikana Assessed Value
$175,500
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 Mikana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54857 | $72,050 | $95,050 | $175,500 | $414,325 | $572,900 |
Source: Ownwell
Property Tax Bills Across Mikana, Wisconsin
In Mikana, located in Barron County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor's office, reflecting the market value of the property. Homeowners in Mikana experience a range of property tax bills, with the 25th percentile at $1,168 and the 75th percentile reaching $5,716. The highest median tax bill in the area is $2,243, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. For homeowners, understanding these factors and how they contribute to their tax bill is crucial for financial planning and property investment decisions.
Average Mikana Tax Bill
$2,243
Average Barron County Tax Bill
$2,341
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mikana, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54857 | $714 | $1,168 | $2,243 | $5,716 | $7,866 |
Source: Ownwell