Clear Lake, Wisconsin Property Taxes
The median property tax rate in Clear Lake, WI is 1.38%, which is higher than both the national median of 0.99% and Wisconsin's state median of 1.58%. With the median home value in Clear Lake at $192,550, the typical annual property tax bill is $2,627, just below the national median of $2,690. Property taxes in Clear Lake are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Clear Lake'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 Clear Lake or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clear Lake, 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 Clear Lake Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Clear Lake with just two data points. Simply input your property's estimated assessed value, and the calculator will apply the median tax rate in Clear Lake to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Clear Lake, Wisconsin
Property taxes in Clear Lake, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clear Lake is 1.38%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Clear Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clear Lake 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 Clear Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54005 has the highest median property tax rate of 1.38%, while the lowest median tax rate is also found in zip code 54005 at 1.38%. Understanding how these cities compare with Clear Lake provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clear Lake Tax Rate
1.38%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | 1.10% | 1.18% | 1.38% | 1.46% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Clear Lake, Wisconsin
In Clear Lake, 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 Polk 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 Clear Lake, 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 Clear Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clear Lake both stand at $2,627 in the 54005 zip code, with tax bills ranging from $1,851 at the 25th percentile to $4,426 at the 90th percentile.
Average Clear Lake Assessed Value
$192,550
Average Polk County Assessed Value
$219,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | $88,290 | $139,375 | $192,550 | $262,275 | $330,950 |
Source: Ownwell
Property Tax Bills Across Clear Lake, Wisconsin
In Clear Lake, Polk 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 the county assessor and reflects the market value of the property. Homeowners in Clear Lake typically see a wide range in their tax bills. For instance, the 25th percentile tax bill is around $1,851, while the 75th percentile tax bill reaches approximately $3,462. At the higher end, the 90th percentile tax bill can be as much as $4,426. These tax amounts are influenced by the local tax rate and the assessed value of the property. Given that the national median property tax rate is 0.99%, Clear Lake's property taxes can have a significant impact on homeowners, especially when compared to other regions. Higher property taxes can affect the affordability of homeownership and may influence decisions regarding buying or selling property in the area. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Clear Lake Tax Bill
$2,627
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | $1,056 | $1,851 | $2,627 | $3,462 | $4,426 |
Source: Ownwell