Hurley, Wisconsin Property Taxes
The median property tax rate in Hurley, WI is 1.77%, considerably higher than both the national median of 0.99% and Wisconsin's state median of 1.58%. With the median home value in Hurley, the typical annual property tax bill reaches $1,345, exceeding the national median of $2,690. Property taxes in Hurley 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 Hurley’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 Hurley or another part of Iron County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hurley, 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 Hurley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hurley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hurley 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 Hurley, Wisconsin
Property taxes in Hurley, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hurley is 1.77%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hurley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hurley 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 Hurley's effective property tax rate to other areas in Iron County and the national median. For comparison, the 54534 zip code has the same median property tax rate of 1.77%. Understanding how these areas compare with Hurley provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hurley Tax Rate
1.77%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hurley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54534 | 1.21% | 1.39% | 1.77% | 3.03% | 3.04% |
Source: Ownwell
Property Tax Assessment Values Across Hurley, Wisconsin
In Hurley, 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 Iron 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 Hurley, 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. The median home price in Hurley is $59,700, with tax bills ranging from $900 at the 25th percentile to $2,848 at the 90th percentile. Notably, the highest and lowest median tax bills are both $1,345 in the 54534 zip code. By understanding 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 Hurley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hurley Assessed Value
$59,700
Average Iron County Assessed Value
$97,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hurley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54534 | $24,300 | $38,200 | $59,700 | $104,800 | $173,600 |
Source: Ownwell
Property Tax Bills Across Hurley, Wisconsin
Property tax bills in Hurley, located in Iron County, WI, are calculated based on the assessed value of a property 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 is assessed, the tax rate, which is set by local taxing authorities, is applied to this value to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Hurley, the median home price is $59,700. Property tax bills can vary significantly, with the 25th percentile at $900 and the 75th percentile at $1,974. At the 90th percentile, homeowners may see tax bills as high as $2,848. Comparatively, the national median property tax rate is 0.99%, and Hurley's rates reflect the local economic conditions and funding needs for public services. This can significantly impact homeowners by influencing their overall housing costs and financial planning.
Average Hurley Tax Bill
$1,345
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Hurley, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54534 | $521 | $900 | $1,345 | $1,974 | $2,848 |
Source: Ownwell