Turtle Lake, Wisconsin Property Taxes
The median property tax rate in Turtle Lake, WI is 0.92%, slightly below the national median of 0.99% and significantly lower than the Wisconsin state median of 1.58%. With a median home value of $218,550 in Turtle Lake, the typical annual property tax bill reaches $1,981, which is also below the national median of $2,690. Property taxes in Turtle Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Turtle Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Turtle Lake or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Turtle Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$2,011
Ownwell’s Turtle Lake Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Turtle Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turtle Lake to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Polk County for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Turtle Lake, Wisconsin
Property taxes in Turtle Lake, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turtle Lake is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Turtle Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turtle 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 Turtle Lake's effective property tax rate to other areas in Polk County and the national median. For comparison, the zip code 54889 has both the highest and lowest median property tax rate of 0.92%. Understanding how these areas compare with Turtle Lake provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Turtle Lake Tax Rate
0.92%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Turtle Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54889 | 0.80% | 0.86% | 0.92% | 0.96% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Turtle Lake, Wisconsin
In Turtle 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 Polk 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 Turtle Lake, 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. The median home price in Turtle Lake is $218,550, with tax bills ranging from $1,301 at the 25th percentile to $4,033 at the 90th percentile. The highest and lowest median tax bills are both $1,981 in the 54889 zip code. 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 Turtle Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Turtle Lake Assessed Value
$218,550
Average Polk County Assessed Value
$219,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Turtle Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54889 | $75,050 | $142,350 | $218,550 | $320,675 | $410,650 |
Source: Ownwell
Property Tax Bills Across Turtle Lake, Wisconsin
In Turtle Lake, located in Polk 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 county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the home. For instance, homeowners in Turtle Lake can expect tax bills ranging from $1,301 at the 25th percentile to $4,033 at the 90th percentile. The median home price in the area is $218,550, and the median property tax rate in Turtle Lake is higher than the national median of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by supporting community amenities and overall quality of life.
Average Turtle Lake Tax Bill
$1,981
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Turtle Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54889 | $638 | $1,301 | $1,981 | $3,077 | $4,033 |
Source: Ownwell