Mason, Wisconsin Property Taxes
The median property tax rate in Mason, WI is 1.04%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Mason at $126,200, the typical annual property tax bill reaches $1,270, which is below the national median of $2,690. Property taxes in Mason are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mason'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 Mason 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
Mason, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,312
$1,218
Ownwell’s Mason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mason 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 Mason, Wisconsin
Property taxes in Mason, WI, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mason is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Mason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mason 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 Mason's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the zip code 54856 has both the highest and lowest median property tax rate of 1.04%. Understanding how these cities compare with Mason 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 Mason Tax Rate
1.04%
Average Bayfield County Tax Rate
1.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mason, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54856 | 0.70% | 0.76% | 1.04% | 1.30% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Mason, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mason, WI. 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 Mason, 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 highest median tax bill in Bayfield County is $1,270 in the 54856 zip code, while the lowest median tax bill is also $1,270 in the same zip code. 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 Mason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mason Assessed Value
$126,200
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 Mason, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54856 | $38,240 | $72,550 | $126,200 | $201,450 | $289,820 |
Source: Ownwell
Property Tax Bills Across Mason, Wisconsin
In Mason, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessment is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $126,200 in Mason, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Several factors influence the final tax bill, including property improvements, neighborhood developments, and overall market trends. In Mason, the 25th percentile tax bill is around $708, while the 75th percentile tax bill reaches $2,105. The 90th percentile tax bill can go up to $2,939, indicating a significant range based on property values and other factors. Compared to the national median property tax rate of 0.99%, Mason's property tax rates reflect local economic conditions and funding requirements. Homeowners must stay informed about these assessments and tax rates to manage their financial planning effectively.
Average Mason Tax Bill
$1,270
Average Bayfield County Tax Bill
$1,916
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Mason, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54856 | $401 | $708 | $1,270 | $2,105 | $2,939 |
Source: Ownwell