Durand, Wisconsin Property Taxes
The median property tax rate in Durand, WI is 1.17%, 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 $131,150 in Durand, the typical annual property tax bill is around $1,605, which is below the national median of $2,690. Property taxes in Durand are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Durand'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 Durand or another part of Buffalo County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Durand, 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 Durand Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Durand with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durand 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 Durand, Wisconsin
Property taxes in Durand, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durand is 1.4%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Durand set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durand 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 Durand's effective property tax rate to other counties in Wisconsin and the national median. For comparison, 54736 has the highest median property tax rate of 1.4%, while 54736 also has the lowest median tax rate of 1.4%. Understanding how these cities compare with Durand provides valuable insights into the varying tax landscape across Pepin, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Durand Tax Rate
1.17%
Average Buffalo County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durand, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54736 | 1.00% | 1.09% | 1.17% | 1.22% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Durand, Wisconsin
In Durand, 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 Buffalo 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 Durand, 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 Durand helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Durand Assessed Value
$131,150
Average Buffalo County Assessed Value
$142,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Durand, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54736 | $50,360 | $89,925 | $131,150 | $197,625 | $251,940 |
Source: Ownwell
Property Tax Bills Across Durand, Wisconsin
In Durand, WI, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $131,150, homeowners can expect varying tax bills. The 25th percentile tax bill is approximately $1,032, while the 75th percentile reaches around $2,356. Those in the 90th percentile may see tax bills as high as $3,040. Factors influencing these amounts include the home's assessed value, any applicable exemptions, and the specific tax rate set by local taxing authorities. Compared to the national median property tax rate of 0.99%, Durand's tax bills reflect the local economic conditions and funding requirements for public services. These tax obligations significantly impact homeowners, influencing their overall cost of living and potentially affecting decisions related to property investments and home ownership in the area.
Average Durand Tax Bill
$1,605
Average Buffalo County Tax Bill
$2,115
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Durand, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54736 | $504 | $1,032 | $1,605 | $2,356 | $3,040 |
Source: Ownwell