White Lake, Wisconsin Property Taxes
The median property tax rate in White Lake, WI is 0.80%, which is significantly lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in White Lake, the typical annual property tax bill amounts to $694, well below the national median of $2,690. Property taxes in White Lake 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 White 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 White 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
White Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$691
$641
Ownwell’s White Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in White Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in White 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 White Lake, Wisconsin
Property taxes in White 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 White Lake is 1.25%, higher than both the Wisconsin state median of 1.53% and the U.S. national median of 0.99%. Local government entities within White Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, White 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 White Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54491 zip code has the highest median property tax rate of 1.25%, while the 54491 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with White 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 White Lake Tax Rate
0.80%
Average Forest County Tax Rate
1.07%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across White Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54491 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across White Lake, Wisconsin
In White 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 White 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. The median home price in White Lake is $86,400, with the median tax bill being $694. Notably, the zip code 54491 has both the highest and lowest median tax bills at $694. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average White Lake Assessed Value
$86,400
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 White Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54491 | $86,400 | $86,400 | $86,400 | $86,400 | $86,400 |
Source: Ownwell
Property Tax Bills Across White Lake, Wisconsin
In White Lake, Forest 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 local assessors who evaluate the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For a median home price of $86,400, homeowners in White Lake can expect a tax bill around $694, which is significantly below the national median property tax rate of 0.99%. This relatively low tax bill can provide substantial savings for homeowners, making White Lake an attractive option for property buyers. Various factors, such as changes in property values and local government budgets, can influence the tax rate. Homeowners should stay informed about these changes, as they directly impact the amount owed each year. Understanding the property tax calculation process helps homeowners better manage their finances and anticipate future tax liabilities.
Average White Lake Tax Bill
$694
Average Forest County Tax Bill
$1,403
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across White Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54491 | $694 | $694 | $694 | $694 | $694 |
Source: Ownwell