Buffalo City, Wisconsin Property Taxes
The median property tax rate in Buffalo City, WI is 0.80%, considerably lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Buffalo City at $11,800, the typical annual property tax bill reaches just $94, significantly below the national median of $2,690. Property taxes in Buffalo City 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 Buffalo City'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 Buffalo City 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
Buffalo City, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Buffalo City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Buffalo City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Buffalo City to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Buffalo City, Wisconsin
Property taxes in Buffalo City, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buffalo City is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Buffalo City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buffalo City 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 Buffalo City's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54622 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Buffalo City provides valuable insights into the varying tax landscape across Buffalo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buffalo City Tax Rate
0.80%
Average Buffalo County Tax Rate
1.45%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buffalo City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Buffalo City, Wisconsin
In Buffalo City, 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 Buffalo 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 Buffalo City, 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 Buffalo City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buffalo City Assessed Value
$11,800
Average Buffalo County Assessed Value
$142,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buffalo City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | $11,800 | $11,800 | $11,800 | $11,800 | $11,800 |
Source: Ownwell
Property Tax Bills Across Buffalo City, Wisconsin
In Buffalo City, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The median home price in this area is $11,800, significantly lower than the national median. Property taxes in Buffalo County are determined by multiplying the assessed value by the local tax rate. For instance, with a local tax rate aligning closely with the national median of 0.99%, homeowners can expect their tax bills to reflect a similar percentage of their property's assessed value. Factors that influence the tax bill include the property's market value, any applicable exemptions, and local government budgetary needs. In Buffalo City, the tax bill at the 25th, 75th, and 90th percentiles is consistently $94, indicating a stable tax environment. This consistency can be beneficial for homeowners, providing predictability in financial planning. However, the relatively low home prices mean that even a small percentage can result in a noticeable tax bill, impacting the overall cost of homeownership in the area.
Average Buffalo City Tax Bill
$94
Average Buffalo County Tax Bill
$2,115
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Buffalo City, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54622 | $94 | $94 | $94 | $94 | $94 |
Source: Ownwell