Shell Lake, Wisconsin Property Taxes
The median property tax rate in Shell Lake, WI is 1.30%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $110,250 in Shell Lake, the typical annual property tax bill amounts to $1,491, which is below the national median of $2,690. Property taxes in Shell Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Shell Lake'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 Shell Lake or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shell Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,433
$1,330
Ownwell’s Shell Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shell Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shell Lake 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 Shell Lake, Wisconsin
Property taxes in Shell Lake, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shell Lake stands at 1.30%, which is higher than the U.S. national median of 0.99%. Local government entities within Shell Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shell Lake 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 Shell Lake's effective property tax rate to other areas in Burnett County and the national median. For comparison, the highest and lowest median property tax rates in Burnett County are both 1.30%, aligning with Shell Lake's rate. Understanding how these cities compare with Shell Lake provides valuable insights into the varying tax landscape across Burnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shell Lake Tax Rate
1.30%
Average Burnett County Tax Rate
1.10%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | 1.00% | 1.19% | 1.30% | 1.41% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Shell Lake, Wisconsin
In Shell Lake, 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 county's 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 Shell Lake, 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 Shell Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Shell Lake is $110,250, with tax bills ranging from $770 at the 25th percentile to $2,962 at the 90th percentile. The zip code 54871 has both the highest and lowest median tax bill, which is $1,491.
Average Shell Lake Assessed Value
$110,250
Average Burnett County Assessed Value
$141,700
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | $27,800 | $61,900 | $110,250 | $166,400 | $215,950 |
Source: Ownwell
Property Tax Bills Across Shell Lake, Wisconsin
In Shell Lake, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made to the home. For homeowners in Shell Lake, the tax bill can vary widely. The median home price is $110,250, and tax bills range from $770 at the 25th percentile to $2,962 at the 90th percentile. Comparatively, the highest and lowest median tax bills in the area are both $1,491, indicating a consistent median across different zip codes within the county. These property taxes play a significant role in funding local services such as schools, public safety, and infrastructure. As a result, understanding how property tax bills are calculated can help homeowners better manage their financial planning and anticipate annual expenses.
Average Shell Lake Tax Bill
$1,491
Average Burnett County Tax Bill
$1,677
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Shell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54871 | $386 | $770 | $1,491 | $2,246 | $2,962 |
Source: Ownwell