Washington Island, Wisconsin Property Taxes
The median property tax rate in Washington Island, WI is 1.22%, which is higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $268,700 in Washington Island, the typical annual property tax bill reaches $3,174, significantly exceeding the national median of $2,690. Property taxes in Washington Island are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Washington Island'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 Washington Island or another part of Door County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washington Island, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$3,278
$3,042
Ownwell’s WASHINGTON ISLAND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WASHINGTON ISLAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WASHINGTON ISLAND 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 Washington Island, Wisconsin
Property taxes in Washington Island, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington Island is 1.22%, which is significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Washington Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington Island 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 Washington Island's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54246 has both the highest and lowest median property tax rate of 1.22%. Understanding how these areas compare with Washington Island provides valuable insights into the varying tax landscape across Door County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Island Tax Rate
1.22%
Average Door County Tax Rate
1.06%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington Island, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54246 | 1.13% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Washington Island, Wisconsin
In Washington Island, 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 Door County Assessor's Office 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 Washington Island, 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. The median home price in Washington Island is $268,700, and property tax bills can range significantly. For example, the 25th percentile tax bill is $1,601, while the 75th percentile tax bill is $4,867, with the 90th percentile reaching up to $6,718. The zip code with the highest and lowest median tax bill is 54246, both at $3,174. 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 Washington Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Washington Island, Wisconsin
Source: Ownwell
$154,750
$240,175
$325,600
Average Washington Island Assessed Value
$268,700
Average Door County Assessed Value
$231,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington Island, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54246 | $13,700 | $168,900 | $268,700 | $402,300 | $550,700 |
Source: Ownwell
Property Tax Bills Across Washington Island, Wisconsin
In Washington Island, Door County, 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 local assessor's office, which evaluates the property's market value. Homeowners in this area experience a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $1,601, while the 75th percentile tax bill reaches approximately $4,867. The 90th percentile tax bill can go up to $6,718, reflecting higher-valued properties. The local property tax rate, applied to the assessed value, is a crucial factor in determining the final tax bill. With the national median property tax rate at 0.99%, homeowners in Washington Island might find their tax bills vary significantly based on their property's market value and the local tax rate. This variation affects homeowners by influencing their annual financial planning and potentially impacting their decisions on property investments and home improvements.
Average Washington Island Tax Bill
$3,174
Average Door County Tax Bill
$2,726
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington Island, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54246 | $166 | $1,601 | $3,174 | $4,867 | $6,718 |
Source: Ownwell