Luxemburg, Wisconsin Property Taxes
The median property tax rate in Luxemburg, 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 a median home value of $265,350 in Luxemburg, the typical annual property tax bill amounts to $2,954, surpassing the national median of $2,690. Property taxes in Luxemburg are determined based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Luxemburg'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 Luxemburg or another part of Brown County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Luxemburg, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,866
Ownwell’s Luxemburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Luxemburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Luxemburg 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 Luxemburg, Wisconsin
Property taxes in Luxemburg, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Luxemburg is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Luxemburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Luxemburg 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 Luxemburg's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54217 has the highest median property tax rate of 1.08%, while the lowest median tax rate is also 1.08% in the same zip code. Understanding how these areas compare with Luxemburg provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Luxemburg Tax Rate
1.08%
Average Brown County Tax Rate
1.47%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Luxemburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54217 | 1.04% | 1.06% | 1.08% | 1.15% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Luxemburg, Wisconsin
In Luxemburg, 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 local 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 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 Luxemburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 54217, with a median tax bill of $2,954.
Average Luxemburg Assessed Value
$265,350
Average Brown County Assessed Value
$232,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Luxemburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54217 | $119,810 | $179,550 | $265,350 | $357,825 | $489,320 |
Source: Ownwell
Property Tax Bills Across Luxemburg, Wisconsin
In Luxemburg, 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 local assessor and reflects the market value of the property. Once the property’s value is assessed, it is multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $265,350, homeowners can expect varying tax bills. The tax bill at the 25th percentile is $1,969, while at the 75th percentile, it rises to $4,112. At the 90th percentile, it can reach as high as $5,788. The highest median tax bill in the area is $2,954. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Comparatively, Luxemburg's tax rates and bills can be higher or lower than the national median property tax rate of 0.99%, affecting how affordable homeownership is in the region.
Average Luxemburg Tax Bill
$2,954
Average Brown County Tax Bill
$3,396
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Luxemburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54217 | $1,365 | $1,969 | $2,954 | $4,112 | $5,788 |
Source: Ownwell