Shullsburg, Wisconsin Property Taxes
The median property tax rate in Shullsburg, WI is 1.90%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Shullsburg, the typical annual property tax bill reaches $169, which is significantly lower than the national median of $2,690. Property taxes in Shullsburg 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 Shullsburg'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 Shullsburg or another part of Lafayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shullsburg, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$168
Ownwell’s Shullsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shullsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shullsburg 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 Shullsburg, Wisconsin
Property taxes in Shullsburg, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shullsburg is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Shullsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shullsburg 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 Shullsburg's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 53586 has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these cities compare with Shullsburg provides valuable insights into the varying tax landscape across Lafayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shullsburg Tax Rate
1.90%
Average Lafayette County Tax Rate
1.84%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shullsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53586 | 1.53% | 1.66% | 1.90% | 1.93% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Shullsburg, Wisconsin
In Shullsburg, 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 Lafayette 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 Shullsburg, 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 Shullsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills both stand at $169 in the 53586 zip code.
Average Shullsburg Assessed Value
$8,848
Average Lafayette County Assessed Value
$15,150
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shullsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53586 | $2,114 | $5,107 | $8,848 | $35,429 | $92,014 |
Source: Ownwell
Property Tax Bills Across Shullsburg, Wisconsin
In Shullsburg, Lafayette County, WI, property tax bills are calculated based on the assessed value of your home. The local assessor determines this value, which is a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine your annual tax bill. Shullsburg's property tax rates can vary, but the national median property tax rate is 0.99%, providing a benchmark for comparison. For example, with a median home price of $8,848, homeowners in Shullsburg might expect to pay a tax bill ranging from $95 at the 25th percentile to $1,721 at the 90th percentile. These variations depend on the specific assessed value of the property and the applicable tax rate. Homeowners in the zip code 53586 can see median tax bills around $169. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly. The effective management of property taxes can significantly impact household finances and overall affordability.
Average Shullsburg Tax Bill
$169
Average Lafayette County Tax Bill
$291
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Shullsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53586 | $36 | $95 | $169 | $568 | $1,721 |
Source: Ownwell