Eagle River, Wisconsin Property Taxes
The median property tax rate in Eagle River, WI is 1.07%, which is higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Eagle River at $391,400, the typical annual property tax bill reaches $4,125, surpassing the national median of $2,690. Property taxes in Eagle River are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eagle River'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 Eagle River 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
Eagle River, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$4,188
Ownwell’s Eagle River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eagle River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eagle River 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 Eagle River, Wisconsin
Property taxes in Eagle River, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eagle River is 1.07%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Eagle River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eagle River 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 Eagle River's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54521 has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Eagle River provides valuable insights into the varying tax landscape across Forest County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eagle River Tax Rate
1.07%
Average Forest County Tax Rate
1.07%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eagle River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54521 | 1.03% | 1.05% | 1.07% | 1.08% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Eagle River, Wisconsin
In Eagle River, 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 Forest 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 Eagle River, 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 Eagle River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $4,125 in the 54521 zip code, while the lowest median tax bill is also $4,125 in the same zip code.
Average Eagle River Assessed Value
$391,400
Average Forest County Assessed Value
$124,600
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eagle River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54521 | $204,850 | $291,400 | $391,400 | $502,150 | $626,930 |
Source: Ownwell
Property Tax Bills Across Eagle River, Wisconsin
In Eagle River, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Eagle River is $391,400. Property taxes are determined by multiplying the assessed value by the local tax rate, which can vary depending on the specific location within the city. For example, the tax bill at the 25th percentile is $3,116, while at the 75th percentile, it's $5,362. At the 90th percentile, homeowners can expect to pay around $6,750. Several factors influence these amounts, including property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property taxes in Eagle River can be significantly higher, impacting homeowners' annual expenses. This variation in tax bills can affect homeowners' financial planning and long-term investment decisions. Understanding these factors can help homeowners anticipate their tax liabilities and manage their budgets more effectively.
Average Eagle River Tax Bill
$4,125
Average Forest County Tax Bill
$1,403
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Eagle River, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54521 | $2,048 | $3,116 | $4,125 | $5,362 | $6,750 |
Source: Ownwell