Downing, Wisconsin Property Taxes
The median property tax rate in Downing, WI is 1.38%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $152,400 in Downing, the typical annual property tax bill amounts to $2,214, which is below the national median of $2,690. Property taxes in Downing are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Downing'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 Downing or another part of Dunn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Downing, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$2,103
Ownwell’s Downing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Downing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Downing 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 Downing, Wisconsin
Property taxes in Downing, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Downing is 1.38%, significantly higher than the U.S. national median of 0.99%. Local government entities within Downing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Downing 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 Downing's effective property tax rate to other areas in Dunn County and the national median. For comparison, the 54734 zip code has both the highest and lowest median property tax rate of 1.38%. Understanding how these areas compare with Downing provides valuable insights into the varying tax landscape across Dunn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Downing Tax Rate
1.38%
Average Dunn County Tax Rate
1.31%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | 1.12% | 1.26% | 1.38% | 1.54% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Downing, Wisconsin
In Downing, 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 Dunn 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 Downing, 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 Downing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Downing is $152,400, with the highest and lowest median tax bills both recorded at $2,214 in the 54734 zip code.
Average Downing Assessed Value
$152,400
Average Dunn County Assessed Value
$211,100
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | $72,240 | $106,150 | $152,400 | $213,300 | $270,680 |
Source: Ownwell
Property Tax Bills Across Downing, Wisconsin
In Downing, Dunn County, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the annual tax obligation. The median home price in Downing is $152,400, and property taxes can significantly vary depending on the assessed value and applicable exemptions. For instance, homeowners in the 25th percentile pay around $1,331, while those in the 75th percentile face bills of about $3,237. At the 90th percentile, the tax bill can be as high as $4,106. These figures illustrate the wide range of property tax burdens that homeowners might experience. Compared to the national median property tax rate of 0.99%, Downing's property tax rates can result in diverse financial impacts on residents. The highest and lowest median tax bills in the area are both $2,214, indicating some consistency in tax assessments within certain zip codes. Understanding these factors can help homeowners better anticipate their property tax responsibilities.
Average Downing Tax Bill
$2,214
Average Dunn County Tax Bill
$2,914
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | $867 | $1,331 | $2,214 | $3,237 | $4,106 |
Source: Ownwell