Barnes, Wisconsin Property Taxes
The median property tax rate in Barnes, WI is 0.83%, considerably lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Barnes at $109,500, the typical annual property tax bill reaches $899, which is significantly below the national median of $2,690. Property taxes in Barnes 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 Barnes'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 Barnes 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
Barnes, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$909
Ownwell’s Barnes Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barnes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barnes 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 Barnes, Wisconsin
Property taxes in Barnes, Wisconsin, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Barnes is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Barnes set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barnes 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 Barnes's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54873 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Barnes provides valuable insights into the varying tax landscape across Bayfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barnes Tax Rate
0.83%
Average Bayfield County Tax Rate
1.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barnes, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Barnes, Wisconsin
In Barnes, 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 Bayfield 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 Barnes, 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 Barnes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill in Barnes is 54873, with a median tax bill of $899.
Average Barnes Assessed Value
$109,500
Average Bayfield County Assessed Value
$167,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barnes, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | $27,350 | $77,325 | $109,500 | $225,650 | $436,100 |
Source: Ownwell
Property Tax Bills Across Barnes, Wisconsin
In Barnes, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the Bayfield County assessor's office, which evaluates the property to estimate its market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Barnes, the median home price is approximately $109,500. Property tax bills can vary significantly; the 25th percentile tax bill is around $640, while the 75th percentile tax bill reaches $1,935. At the higher end, the 90th percentile tax bill can go up to $3,605. The highest median tax bill in the area is $899, found in the zip code 54873. These property taxes fund essential local services such as schools, public safety, and infrastructure. Homeowners need to understand how these factors influence their tax bills, as it directly impacts their annual financial planning and the affordability of owning property in Barnes.
Average Barnes Tax Bill
$899
Average Bayfield County Tax Bill
$1,916
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Barnes, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54873 | $226 | $640 | $899 | $1,935 | $3,605 |
Source: Ownwell