Cornucopia, Wisconsin Property Taxes
The median property tax rate in Cornucopia, WI is 1.44%, which is significantly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $145,950, the typical annual property tax bill in Cornucopia is $2,070, which is below the national median of $2,690. Property taxes in Cornucopia are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural land. Understanding Cornucopia'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 Cornucopia or another part of Bayfield County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cornucopia, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,102
Ownwell’s Cornucopia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cornucopia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cornucopia 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 Cornucopia, Wisconsin
Property taxes in Cornucopia, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cornucopia is 1.44%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Cornucopia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cornucopia 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 Cornucopia's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54827 zip code 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 Cornucopia 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 Cornucopia Tax Rate
1.44%
Average Bayfield County Tax Rate
1.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cornucopia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54827 | 1.44% | 1.44% | 1.44% | 1.44% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Cornucopia, Wisconsin
In Cornucopia, 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 Assessor 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 Cornucopia, 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 Cornucopia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,070 in the 54827 zip code, while the lowest median tax bill is also $2,070 in the same zip code.
Average Cornucopia Assessed Value
$145,950
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 Cornucopia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54827 | $51,540 | $87,775 | $145,950 | $262,875 | $360,930 |
Source: Ownwell
Property Tax Bills Across Cornucopia, Wisconsin
In Cornucopia, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $145,950, the assessed value forms the foundation for calculating the tax bill. The tax rate, which varies by locality, is then applied to this assessed value to determine the annual tax obligation. Factors such as local government budgets, school funding, and public services significantly influence the tax rate. Homeowners in Cornucopia can expect a wide range in their property tax bills. The 25th percentile tax bill is $1,259, while the 75th percentile reaches $3,717, and the 90th percentile goes up to $5,188. These figures highlight the variability in tax burdens, influenced by property values and local tax rates. Compared to the national median property tax rate of 0.99%, Cornucopia's tax bills reflect the unique economic and governmental factors at play in Bayfield County, impacting homeowners differently based on their property's assessed value.
Average Cornucopia Tax Bill
$2,070
Average Bayfield County Tax Bill
$1,916
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Cornucopia, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54827 | $706 | $1,259 | $2,070 | $3,717 | $5,188 |
Source: Ownwell