Shell Lake, Wisconsin Property Taxes
The median property tax rate in Shell Lake, WI is 1.59%, noticeably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Shell Lake, the typical annual property tax bill reaches $4,724, significantly exceeding the national median of $2,690. Property taxes in Shell Lake are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Shell Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Shell Lake or another part of Washburn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shell 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 Shell Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shell Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shell Lake 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 Shell Lake, Wisconsin
Property taxes in Shell Lake, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shell Lake is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Shell Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shell 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 Shell Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54871 zip code has the highest median property tax rate of 1.59%, while the same 54871 zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Shell Lake provides valuable insights into the varying tax landscape across Washburn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shell Lake Tax Rate
1.59%
Average Washburn County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | 1.59% | 1.59% | 1.59% | 1.60% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Shell Lake, Wisconsin
In Shell 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 Washburn 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 Shell 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 Shell Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price is $296,250, with tax bills ranging from $929 at the 25th percentile to $6,063 at the 90th percentile. The highest and lowest median tax bills are both $4,724 in the 54871 zip code.
Average Shell Lake Assessed Value
$296,250
Average Washburn County Assessed Value
$126,300
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | $58,200 | $58,200 | $296,250 | $380,200 | $380,200 |
Source: Ownwell
Property Tax Bills Across Shell Lake, Wisconsin
In Shell Lake, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors who evaluate the property’s market value. The tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including property size, location, and improvements made to the home. Homeowners in Shell Lake, located in Washburn County, experience varying tax bills. For instance, the 25th percentile tax bill is $929, while those at the 75th and 90th percentiles face a tax bill of $6063. This range indicates a significant variation in tax burdens, reflecting differences in property values and assessments within the area. Comparatively, the national median property tax rate stands at 0.99%, making it essential for homeowners to understand how their local tax rate and assessed home value impact their financial obligations. Accurate assessments and awareness of local tax rates are crucial for homeowners to manage and anticipate their property tax expenses effectively.
Average Shell Lake Tax Bill
$4,724
Average Washburn County Tax Bill
$1,472
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | $929 | $929 | $4,724 | $6,063 | $6,063 |
Source: Ownwell