Long Lake, Wisconsin Property Taxes
The median property tax rate in Long Lake, WI is 0.89%, which is lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Long Lake at $79,100, the typical annual property tax bill is $700, significantly below the national median of $2,690. Property taxes in Long 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 Long 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 Long Lake 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
Long Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$704
$653
Ownwell’s Long Lake Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Long Lake with just two data points. By entering your property's estimated assessed value, the calculator utilizes the median tax rate in Long Lake to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for property tax purposes and includes any applicable exemptions.
Property Tax Rates Across Long Lake, Wisconsin
Property taxes in Long Lake, Wisconsin, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Long Lake is 1.56%, significantly higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within Long Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Long 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 Long Lake's effective property tax rate to other counties in Wisconsin and the national median. Understanding how these cities compare with Long Lake 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 Long Lake Tax Rate
0.89%
Average Forest County Tax Rate
1.07%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | 0.63% | 0.79% | 0.89% | 0.92% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Long Lake, Wisconsin
In Long 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 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 Long 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 Long Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Long Lake is $79,100, with tax bills ranging between $344 at the 25th percentile and $1,286 at the 75th percentile. The highest and lowest median tax bill, both $700, can be found in the 54542 zip code.
Average Long Lake Assessed Value
$79,100
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 Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | $21,740 | $43,100 | $79,100 | $138,400 | $199,320 |
Source: Ownwell
Property Tax Bills Across Long Lake, Wisconsin
Property tax bills in Long Lake, Forest County, WI, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the local assessor. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Long Lake face tax bills that can vary significantly. For instance, the 25th percentile tax bill is $344, while the 75th percentile tax bill reaches $1,286, and the 90th percentile tax bill is as high as $1,877. These variations highlight how different property characteristics and assessments can impact the final tax bill. Compared to the national median property tax rate of 0.99%, Long Lake's rates may seem modest, yet they play a crucial role in funding local services such as schools, infrastructure, and emergency services. For homeowners, understanding these factors is essential for financial planning and anticipating yearly tax obligations.
Average Long Lake Tax Bill
$700
Average Forest County Tax Bill
$1,403
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Long Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54542 | $136 | $344 | $700 | $1,286 | $1,877 |
Source: Ownwell