Babcock, Wisconsin Property Taxes
The median property tax rate in Babcock, WI is 1.16%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $74,200 in Babcock, the typical annual property tax bill is approximately $903, which is below the national median of $2,690. Property taxes in Babcock 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 Babcock'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 Babcock 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
Babcock, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$861
Ownwell’s Babcock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Babcock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Babcock 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 Babcock, Wisconsin
Property taxes in Babcock, Wisconsin, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Babcock is 1.16%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Babcock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Babcock 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 Babcock's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54413 zip code has the highest median property tax rate of 1.16%, while the 54413 zip code has the lowest median tax rate of 1.16%. Understanding how these cities compare with Babcock provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Babcock Tax Rate
1.16%
Average Wood County Tax Rate
1.75%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Babcock, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54413 | 0.90% | 1.05% | 1.16% | 1.22% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Babcock, Wisconsin
In Babcock, 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 Wood 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 Babcock, 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 Babcock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Babcock is $74,200, with tax bills ranging from $489 at the 25th percentile to $2,343 at the 90th percentile. The highest and lowest median tax bills are both $903, found in zip code 54413.
Average Babcock Assessed Value
$74,200
Average Wood County Assessed Value
$143,800
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Babcock, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54413 | $21,140 | $42,300 | $74,200 | $131,300 | $194,880 |
Source: Ownwell
Property Tax Bills Across Babcock, Wisconsin
In Babcock, WI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Babcock, the median home price is $74,200. The tax bill can vary significantly, with the 25th percentile paying around $489 and the 75th percentile paying up to $1,554. The 90th percentile sees even higher bills, reaching $2,343. Several factors influence these variations, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Babcock may find their tax rates to be relatively moderate, but individual circumstances can lead to higher or lower bills. This variability can significantly impact homeowners, affecting their annual budgeting and long-term financial planning. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Babcock Tax Bill
$903
Average Wood County Tax Bill
$2,331
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Babcock, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54413 | $176 | $489 | $903 | $1,554 | $2,343 |
Source: Ownwell