Lake Nebagamon, Wisconsin Property Taxes
The median property tax rate in Lake Nebagamon, WI is 1.19%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Lake Nebagamon at $221,750, the typical annual property tax bill reaches $2,696, just above the national median of $2,690. Property taxes in Lake Nebagamon are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lake Nebagamon'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 Lake Nebagamon 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
Lake Nebagamon, 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 Lake Nebagamon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Nebagamon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Nebagamon 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 Lake Nebagamon, Wisconsin
Property taxes in Lake Nebagamon, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Nebagamon is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within Lake Nebagamon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Nebagamon 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 Lake Nebagamon's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54849 has the highest median property tax rate of 1.19%, while the lowest median tax rate is also 1.19% in the same zip code. Understanding how these cities compare with Lake Nebagamon provides valuable insights into the varying tax landscape across Douglas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Nebagamon Tax Rate
1.19%
Average Douglas County Tax Rate
1.25%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Nebagamon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54849 | 1.07% | 1.14% | 1.19% | 1.23% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Lake Nebagamon, Wisconsin
In Lake Nebagamon, 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 Douglas 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 Lake Nebagamon, 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 Lake Nebagamon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 54849 at $2,696, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Lake Nebagamon, Wisconsin
Source: Ownwell
$90,400
$210,975
$331,550
Average Lake Nebagamon Assessed Value
$221,750
Average Douglas County Assessed Value
$170,250
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Nebagamon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54849 | $107,820 | $161,900 | $221,750 | $321,775 | $469,920 |
Source: Ownwell
Property Tax Bills Across Lake Nebagamon, Wisconsin
In Lake Nebagamon, located in Douglas County, WI, property tax bills are determined based on the assessed value of the property and the local tax rate. The median home price in this area is $221,750. Property taxes are calculated by multiplying the assessed value of the home by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Lake Nebagamon experience a range of property tax bills. The 25th percentile tax bill is around $1,941, while the 75th percentile tax bill reaches up to $3,987. For those in the 90th percentile, the tax bill can be as high as $5,944. The highest and lowest median tax bills in the area are both $2,696, indicating a consistent tax rate within the zip code 54849. Compared to the national median property tax rate of 0.99%, Douglas County's tax rates can significantly impact homeowners, making it crucial to understand how these taxes are calculated and what factors influence them.
Average Lake Nebagamon Tax Bill
$2,696
Average Douglas County Tax Bill
$2,072
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Nebagamon, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54849 | $1,234 | $1,941 | $2,696 | $3,987 | $5,944 |
Source: Ownwell