Minong, Wisconsin Property Taxes
The median property tax rate in Minong, WI is 0.92%, slightly below the national median of 0.99% and significantly lower than Wisconsin's state median of 1.58%. With a median home value of $91,550 in Minong, the typical annual property tax bill amounts to $813, which is well below the national median of $2,690. Property taxes in Minong are calculated based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Minong'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 Minong or another part of Burnett County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Minong, 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 Minong Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Minong with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minong 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 Minong, Wisconsin
Property taxes in Minong, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minong is 0.92%, which is lower than the U.S. national median of 0.99%. Local government entities within Minong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minong 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 Minong's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54859 zip code in Burnett County has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Minong 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 Minong Tax Rate
0.92%
Average Burnett County Tax Rate
1.10%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minong, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54859 | 0.85% | 0.90% | 0.92% | 0.97% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Minong, Wisconsin
In Minong, 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 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 Minong, 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 Minong helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Burnett County, the median home price is $91,550, with annual tax bills ranging from $442 at the 25th percentile to $2,115 at the 90th percentile. The highest and lowest median tax bills are both $813 in the 54859 zip code.
Average Minong Assessed Value
$91,550
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 Minong, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54859 | $25,530 | $44,575 | $91,550 | $170,050 | $226,710 |
Source: Ownwell
Property Tax Bills Across Minong, Wisconsin
In Minong, 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 county assessor and reflects the market value of the property. Homeowners in Minong can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $442 and the 75th percentile tax bill reaching $1,593. The 90th percentile tax bill can go as high as $2,115. Factors such as property size, location, and any improvements made to the property can influence the assessed value, which in turn affects the tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Minong might find their tax rates to be relatively moderate. However, the variability in tax bills means that homeowners need to be aware of how changes in their property’s assessed value can impact their annual tax obligations. The highest and lowest median tax bills in Minong are both recorded at $813 in the zip code 54859, indicating some consistency within that area.
Average Minong Tax Bill
$813
Average Burnett County Tax Bill
$1,677
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Minong, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54859 | $304 | $442 | $813 | $1,593 | $2,115 |
Source: Ownwell