Washburn, Wisconsin Property Taxes
The median property tax rate in Washburn, WI is 1.80%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Washburn at $155,900, the typical annual property tax bill reaches $2,206, exceeding the national median of $2,690. Property taxes in Washburn 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 Washburn'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 Washburn 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
Washburn, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$2,806
$2,604
Ownwell’s WASHBURN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WASHBURN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WASHBURN 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 Washburn, Wisconsin
Property taxes in Washburn, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Washburn is 1.80%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Washburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washburn 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 Washburn's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54891 zip code has the highest median property tax rate of 1.80%, while the same zip code also has the lowest median tax rate of 1.80%. Understanding how these areas compare with Washburn 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 Washburn Tax Rate
1.80%
Average Bayfield County Tax Rate
1.14%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washburn, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54891 | 0.97% | 1.12% | 1.80% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Washburn, Wisconsin
In Washburn, 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 local 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 Washburn, 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 Washburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54891 has the highest and lowest median tax bill, both at $2206.
Average Washburn Assessed Value
$155,900
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 Washburn, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54891 | $62,360 | $96,850 | $155,900 | $236,500 | $340,740 |
Source: Ownwell
Property Tax Bills Across Washburn, Wisconsin
In Washburn, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Bayfield County Assessor’s Office and is a percentage of the market value of the home. For instance, if the median home price in Washburn is $155,900, the assessed value would be a proportion of this amount. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in Washburn can expect a wide range of tax bills. For example, the tax bill at the 25th percentile is $1,471, while at the 75th percentile, it climbs to $3,068. At the 90th percentile, it can reach as high as $4,411. These variations significantly affect homeowners, as higher property taxes can impact overall affordability and long-term financial planning. Compared to the national median property tax rate of 0.99%, Washburn’s rates can vary, reflecting the unique economic and administrative factors of the region.
Average Washburn Tax Bill
$2,206
Average Bayfield County Tax Bill
$1,916
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Washburn, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54891 | $851 | $1,471 | $2,206 | $3,068 | $4,411 |
Source: Ownwell