Cuba City, Wisconsin Property Taxes
The median property tax rate in Cuba City, WI is 1.57%, slightly lower than the Wisconsin state median of 1.58% but significantly higher than the national median of 0.99%. With a median home value of $151,100, the typical annual property tax bill in Cuba City reaches $2,493, which is below the national median of $2,690. Property taxes in Cuba City are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cuba City'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 Cuba City 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
Cuba City, 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 Cuba City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cuba City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cuba City 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 Cuba City, Wisconsin
Property taxes in Cuba City, Wisconsin, play a crucial role in financing essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Cuba City stands at 1.57%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Cuba City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cuba City 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 Cuba City's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53807 has the highest median property tax rate of 1.57%, which is also the lowest median tax rate in the same zip code. Understanding how these areas compare with Cuba City provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cuba City Tax Rate
1.57%
Average Grant County Tax Rate
1.49%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cuba City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53807 | 1.33% | 1.40% | 1.57% | 1.86% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Cuba City, Wisconsin
In Cuba City, 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 Grant 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 Cuba City, 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 Cuba City 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 $2,493 in the 53807 zip code, which also has the lowest median tax bill of $2,493.
Average Cuba City Assessed Value
$151,100
Average Grant County Assessed Value
$141,950
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cuba City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53807 | $66,280 | $102,300 | $151,100 | $207,500 | $287,060 |
Source: Ownwell
Property Tax Bills Across Cuba City, Wisconsin
In Cuba City, located in Grant County, WI, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local assessors who evaluate the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors affect the tax bill, including changes in property values, local government budgets, and public service funding needs. For instance, the median home price in Cuba City is $151,100. Homeowners can expect tax bills ranging significantly, with the 25th percentile at $1,654 and the 75th percentile reaching $3,053. At the 90th percentile, taxes can be as high as $4,352. These property taxes fund essential services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Cuba City's tax rate can lead to varying financial responsibilities for homeowners, influencing their overall cost of living.
Average Cuba City Tax Bill
$2,493
Average Grant County Tax Bill
$2,159
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Cuba City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53807 | $1,163 | $1,654 | $2,493 | $3,053 | $4,352 |
Source: Ownwell