Long Lake, Wisconsin Property Taxes
The median property tax rate in Long Lake, WI is 1.52%, which is significantly higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With the median home value in Long Lake at $85,650, the typical annual property tax bill amounts to $1,284, which is lower than the national median of $2,690. Property taxes in Long Lake are calculated based on the tax assessed value, often below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Long Lake'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 Long Lake 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
Long Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$1,302
Ownwell’s Long Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Long Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Long Lake 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 Long Lake, Wisconsin
Property taxes in Long Lake, Wisconsin, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Long Lake is 1.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Long Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long Lake 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 Long Lake's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54542 has both the highest and lowest median property tax rate of 1.52%. Understanding how these areas compare with Long Lake provides valuable insights into the varying tax landscape across Florence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Long Lake Tax Rate
1.52%
Average Florence County Tax Rate
1.51%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | 1.13% | 1.35% | 1.52% | 1.59% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Long Lake, Wisconsin
In Long Lake, 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 Florence 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. Assessment notices in Long Lake 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. Knowing these processes in Long Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the region are both $1,284, found in the 54542 zip code.
Average Long Lake Assessed Value
$85,650
Average Florence County Assessed Value
$107,800
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | $20,500 | $42,925 | $85,650 | $133,400 | $208,250 |
Source: Ownwell
Property Tax Bills Across Long Lake, Wisconsin
In Long Lake, WI, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Florence County Assessor's office, reflecting the property's market value. Homeowners in Long Lake experience varying tax bills depending on their property's assessed value, with the median home price being $85,650. Tax bills in the 25th percentile are around $581, while those in the 75th percentile can reach up to $2,075. For those at the 90th percentile, tax bills can be as high as $3,353. Compared to the national median property tax rate of 0.99%, Long Lake's tax bills can significantly impact homeowners, especially those with higher-valued properties. The highest and lowest median tax bills in the region are both $1,284, indicating a consistent tax rate across different zip codes. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Long Lake Tax Bill
$1,284
Average Florence County Tax Bill
$1,605
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | $260 | $581 | $1,284 | $2,075 | $3,353 |
Source: Ownwell