Clear Lake, Wisconsin Property Taxes
The median property tax rate in Clear Lake, WI is 1.43%, which is 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 Clear Lake at $163,300, the typical annual property tax bill amounts to $2,328, which is below the national median of $2,690. Property taxes in Clear Lake are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. 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 the city, 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
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,335
Ownwell’s Clear Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clear Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clear 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 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 1.43%, 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 54005 zip code has both the highest and lowest median property tax rate of 1.43%. Understanding how these cities compare with Clear Lake provides valuable insights into the varying tax landscape across Barron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clear Lake Tax Rate
1.43%
Average Barron County Tax Rate
1.25%
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 | 1.23% | 1.36% | 1.43% | 1.48% | 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 Barron 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. For instance, the median home price in Clear Lake is $163,300, with tax bills ranging from $1,288 at the 25th percentile to $2,934 at the 75th percentile, and up to $3,721 at the 90th percentile. Interestingly, the highest and lowest median tax bills are both found in zip code 54005, amounting to $2,328. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clear Lake Assessed Value
$163,300
Average Barron County Assessed Value
$176,200
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 | $35,040 | $94,250 | $163,300 | $200,100 | $251,080 |
Source: Ownwell
Property Tax Bills Across Clear Lake, Wisconsin
In Clear Lake, Barron County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $163,300, homeowners can expect varying tax bills. At the 25th percentile, tax bills are around $1,288, while those at the 75th percentile reach up to $2,934. The 90th percentile sees tax bills as high as $3,721. These figures indicate that property taxes in Clear Lake can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Barron County are both $2,328, highlighting a relatively consistent tax burden across different areas within the county. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Clear Lake Tax Bill
$2,328
Average Barron County Tax Bill
$2,341
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 | $490 | $1,288 | $2,328 | $2,934 | $3,721 |
Source: Ownwell