Clam Lake, Wisconsin Property Taxes
The median property tax rate in Clam Lake, WI is 1.44%, considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Clam Lake at $174,500, the typical annual property tax bill reaches $2,522, slightly below the national median of $2,690. Property taxes in Clam Lake 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 Clam 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 Clam Lake or another part of Ashland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clam Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,513
Ownwell’s Clam Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clam Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clam 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 Clam Lake, Wisconsin
Property taxes in Clam Lake, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clam Lake is 1.44%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Clam Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clam 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 Clam Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54517 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Clam Lake provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clam Lake Tax Rate
1.44%
Average Ashland County Tax Rate
1.89%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | 1.43% | 1.44% | 1.44% | 1.44% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Clam Lake, Wisconsin
In Clam 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 Ashland 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 Clam 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 Clam Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Clam Lake, the median home price is $174,500. The lowest median tax bill is $1,028 in the 54517 zip code, while the highest median tax bill is $3,925 in the same zip code.
Average Clam Lake Assessed Value
$174,500
Average Ashland County Assessed Value
$101,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | $39,960 | $71,650 | $174,500 | $273,300 | $410,840 |
Source: Ownwell
Property Tax Bills Across Clam Lake, Wisconsin
In Clam Lake, located in Ashland County, WI, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in Clam Lake is $174,500, and property taxes are determined by multiplying this assessed value by the local tax rate. The tax bill can vary significantly, with the 25th percentile at $1,028 and the 75th percentile at $3,925, reflecting the range of property values and tax rates within the area. Factors such as property improvements, market conditions, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners in Clam Lake may find their tax bills higher or lower depending on these variables. For instance, the 90th percentile tax bill reaches up to $5,900, indicating higher-valued properties or higher tax rates. Compared to the national median property tax rate of 0.99%, Clam Lake's property taxes can be substantial, impacting homeowners' annual financial planning and property affordability.
Average Clam Lake Tax Bill
$2,522
Average Ashland County Tax Bill
$1,986
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | $563 | $1,028 | $2,522 | $3,925 | $5,900 |
Source: Ownwell