Grantsburg, Wisconsin Property Taxes
The median property tax rate in Grantsburg, WI is 1.23%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Grantsburg at $114,900, the typical annual property tax bill reaches $1,473, exceeding the national median of $2,690. Property taxes in Grantsburg 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 Grantsburg'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 Grantsburg 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
Grantsburg, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,413
Ownwell’s Grantsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grantsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grantsburg 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 Grantsburg, Wisconsin
Property taxes in Grantsburg, Wisconsin, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Grantsburg is 1.23%, which is higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Grantsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grantsburg 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 Grantsburg's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54840 ZIP code has the highest median property tax rate of 1.23%, while the same ZIP code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Grantsburg provides valuable insights into the varying tax landscape across Burnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grantsburg Tax Rate
1.23%
Average Burnett County Tax Rate
1.10%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | 0.98% | 1.12% | 1.23% | 1.37% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Grantsburg, Wisconsin
In Grantsburg, 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 Burnett 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 Grantsburg, 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 Grantsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1473 in the 54840 zip code, which is also the lowest.
Average Grantsburg Assessed Value
$114,900
Average Burnett County Assessed Value
$141,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | $36,800 | $69,700 | $114,900 | $174,700 | $254,900 |
Source: Ownwell
Property Tax Bills Across Grantsburg, Wisconsin
In Grantsburg, Burnett County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. Factors such as the property's location, size, and condition play a crucial role in this assessment. Once the assessed value is established, local tax rates, also known as mill rates, are applied to calculate the annual property tax bill. For homeowners in Grantsburg, the median home price is $114,900. The property tax bill can vary significantly, ranging from the 25th percentile at $853 to the 75th percentile at $2,359, with the 90th percentile reaching up to $3,388. These figures indicate a substantial variation depending on the home's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, the tax bills in Grantsburg reflect the local economic conditions and funding requirements for public services. High property taxes can impact homeowners by increasing their annual expenses, while lower taxes could make homeownership more affordable.
Average Grantsburg Tax Bill
$1,473
Average Burnett County Tax Bill
$1,677
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | $456 | $853 | $1,473 | $2,359 | $3,388 |
Source: Ownwell