Prairie Farm, Wisconsin Property Taxes
The median property tax rate in Prairie Farm, WI is 1.27%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $147,600 in Prairie Farm, the typical annual property tax bill amounts to $1,865, falling short of the national median of $2,690. Property taxes in Prairie Farm are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Prairie Farm’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 Prairie Farm or elsewhere in Barron County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prairie Farm, 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 Prairie Farm Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prairie Farm with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prairie Farm 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 Prairie Farm, Wisconsin
Property taxes in Prairie Farm, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prairie Farm is 1.27%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Prairie Farm set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prairie Farm 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 Prairie Farm's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54762 zip code has the highest median property tax rate of 1.27%, while the 54762 zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Prairie Farm 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 Prairie Farm Tax Rate
1.27%
Average Barron County Tax Rate
1.25%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prairie Farm, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54762 | 0.97% | 1.11% | 1.27% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Prairie Farm, Wisconsin
In Prairie Farm, 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 local appraisal authorities 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 Prairie Farm, 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 Prairie Farm helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54762 shows the highest median tax bill at $1,865, which is significantly above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Prairie Farm, Wisconsin
Source: Ownwell
$116,900
$164,725
$212,550
Average Prairie Farm Assessed Value
$147,600
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 Prairie Farm, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54762 | $65,480 | $98,800 | $147,600 | $201,550 | $271,590 |
Source: Ownwell
Property Tax Bills Across Prairie Farm, Wisconsin
In Prairie Farm, located in Barron County, WI, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $147,600, and the property tax rate is determined by local taxing authorities. To calculate the tax bill, the assessed value of the property is multiplied by the tax rate. This assessed value is influenced by factors such as the property's market value, improvements made to the property, and comparable sales in the area. For homeowners in Prairie Farm, the tax bill can vary significantly. The 25th percentile tax bill is $1,163, while the 75th percentile tax bill is $2,750, and the 90th percentile tax bill reaches $4,004. Compared to the national median property tax rate of 0.99%, Prairie Farm's rates can be quite impactful on homeowners' finances. These taxes fund essential local services like schools, infrastructure, and emergency services, thereby affecting the overall quality of life in the community.
Average Prairie Farm Tax Bill
$1,865
Average Barron County Tax Bill
$2,341
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Prairie Farm, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54762 | $664 | $1,163 | $1,865 | $2,750 | $4,004 |
Source: Ownwell