Bassett, Wisconsin Property Taxes
The median property tax rate in Bassett, WI is 1.43%, higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Bassett at $275,803, the typical annual property tax bill reaches $4,110, exceeding the national median of $2,690. Property taxes in Bassett 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 Bassett'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 Bassett 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
Bassett, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$3,944
Ownwell’s Bassett Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bassett with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bassett to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Bassett, Wisconsin
Property taxes in Bassett, Wisconsin, are crucial for funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Bassett is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bassett set these rates annually, and they can vary across different neighborhoods. Each year, Bassett 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 Bassett's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53101 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Bassett provides valuable insights into the varying tax landscape across Kenosha County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bassett Tax Rate
1.43%
Average Kenosha County Tax Rate
2.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bassett, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53101 | 1.32% | 1.37% | 1.43% | 1.46% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Bassett, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bassett, Wisconsin. 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 local 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. Assessment notices in Bassett 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 Bassett 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 $4,110 in zip code 53101, which is also the lowest median tax bill, highlighting the uniformity in property tax assessments within the region.
Average Bassett Assessed Value
$275,803
Average Kenosha County Assessed Value
$201,507
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bassett, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53101 | $55,708 | $162,224 | $275,803 | $506,636 | $689,166 |
Source: Ownwell
Property Tax Bills Across Bassett, Wisconsin
In Bassett, located in Kenosha County, 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 local assessors who evaluate the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bassett, the median home price stands at $275,803, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $2,397, while at the 75th percentile, it rises to $7,756. At the 90th percentile, homeowners may see a tax bill as high as $9,770. The highest median tax bill in the area is $4,110, which is consistent across the 53101 zip code. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Bassett's property taxes reflect the local economic conditions and government funding requirements.
Average Bassett Tax Bill
$4,110
Average Kenosha County Tax Bill
$4,787
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Bassett, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53101 | $692 | $2,397 | $4,110 | $7,756 | $9,770 |
Source: Ownwell