Butternut, Wisconsin Property Taxes
The median property tax rate in Butternut, WI is 1.64%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Butternut at $75,200, the typical annual property tax bill reaches $1,212, which is still below the national median of $2,690. Property taxes in Butternut are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Butternut'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 Butternut or another part of Ashland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Butternut, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$1,233
Ownwell’s Butternut Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Butternut with just two key pieces of information. By inputting your property's estimated assessed value, the calculator utilizes the median tax rate in Butternut to provide an estimate of your property tax bill. This valuable tool offers insight into your potential tax liabilities. For those interested in trends at a more localized level, further details can be found by scrolling down. Your property's assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Butternut, Wisconsin
Property taxes in Butternut, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Butternut is 1.64%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Butternut set these rates annually, and they can vary significantly across different neighborhoods. Each year, Butternut 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 Butternut's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54514 zip code has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Butternut provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Butternut Tax Rate
1.64%
Average Ashland County Tax Rate
1.89%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Butternut, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54514 | 1.34% | 1.41% | 1.64% | 1.73% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Butternut, Wisconsin
In Butternut, 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 Ashland 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 Butternut, 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 Butternut helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54514 has the highest and lowest median tax bill, both at $1,212.
Average Butternut Assessed Value
$75,200
Average Ashland County Assessed Value
$101,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Butternut, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54514 | $27,240 | $49,300 | $75,200 | $125,000 | $179,520 |
Source: Ownwell
Property Tax Bills Across Butternut, Wisconsin
In Butternut, located in Ashland County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Butternut is $75,200. Homeowners in the area typically see property tax bills that vary significantly, reflecting differences in property values and assessment practices. For instance, the 25th percentile of tax bills is around $762, while the 75th percentile reaches $1,918, and the 90th percentile can go up to $2,782. These tax bills are influenced by the assessed value of the property, which is determined by local assessors, and the tax rate set by local government entities. The national median property tax rate is 0.99%, but actual rates can vary based on local budget needs and property values. For homeowners, this means that property taxes can represent a substantial annual expense, impacting their overall cost of living and financial planning. Understanding how these taxes are calculated is crucial for effective budgeting and long-term financial health.
Average Butternut Tax Bill
$1,212
Average Ashland County Tax Bill
$1,986
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Butternut, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54514 | $417 | $762 | $1,212 | $1,918 | $2,782 |
Source: Ownwell