Turtle Lake, Wisconsin Property Taxes
The median property tax rate in Turtle Lake, WI is 1.08%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Turtle Lake, the typical annual property tax bill reaches $2,276, slightly below the national median of $2,690. Property taxes in Turtle Lake 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 Turtle 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 Turtle 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
Turtle Lake, 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 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 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 Turtle Lake, Wisconsin
Property taxes in Turtle Lake, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Turtle Lake is 1.08%, higher than both the Wisconsin state median and 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 Wisconsin and the national median. For comparison, the zip code 54889 has both the highest and lowest median property tax rate of 1.08%. Understanding how these areas compare with Turtle Lake provides valuable insights into the varying tax landscape across Barron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Turtle Lake Tax Rate
1.08%
Average Barron County Tax Rate
1.25%
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 | 0.98% | 1.04% | 1.08% | 1.40% | 1.49% |
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 Barron County Assessor 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. For instance, the median home price in Turtle Lake is $190,850, with tax bills ranging from $1,583 at the 25th percentile to $4,581 at the 90th percentile. The zip code 54889 has both the highest and lowest median tax bills at $2,276. 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
$190,850
Average Barron County Assessed Value
$176,200
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 | $74,190 | $126,400 | $190,850 | $311,850 | $429,650 |
Source: Ownwell
Property Tax Bills Across Turtle Lake, Wisconsin
In Turtle Lake, property tax bills are calculated based on the assessed value of a home and the applicable tax rate set by local authorities in Barron County. The assessed value is determined by the local assessor and reflects a percentage of the property's market value. Homeowners in Turtle Lake can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. For example, the median home price in Turtle Lake is $190,850, and property tax bills can range significantly. At the 25th percentile, tax bills are around $1,583, while at the 75th percentile, they can go up to $3,405. For those at the 90th percentile, tax bills may reach $4,581. These figures show that property taxes in Turtle Lake can vary widely, impacting homeowners differently based on the value of their property. Compared to the national median property tax rate of 0.99%, Turtle Lake's tax bills reflect the local economic conditions and funding requirements for public services.
Average Turtle Lake Tax Bill
$2,276
Average Barron County Tax Bill
$2,341
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 | $912 | $1,583 | $2,276 | $3,405 | $4,581 |
Source: Ownwell