Iron County, Wisconsin Property Taxes
The median property tax rate in Iron County is 1.39%, 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 $97,500, the typical annual property tax bill in Iron County amounts to $1,604, which is significantly below the national median of $2,690. Property taxes in Iron County are calculated based on the assessed value, often lower than the actual market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Iron County's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you reside in a city like Hurley or another part of Iron County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Iron County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,355
$1,258
Ownwell’s Iron County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Iron County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Iron County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Iron County, Wisconsin
Property taxes in Iron County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Iron County is 1.39%, which is higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Iron County set these rates annually, and they can vary significantly between different areas within the county. Each year, Iron County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Hurley has one of the higher property tax rates in Wisconsin at 1.77%, while the city of Pence boasts one of the lowest at 1.13%. Analyzing how Iron County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iron County, Wisconsin
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Butternut | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
| Gile | 1.74% | 1.74% | 1.74% | 1.74% | 1.75% |
| Gurney | N/A | N/A | N/A | N/A | N/A |
| Hurley | 1.21% | 1.39% | 1.77% | 3.03% | 3.04% |
| Iron Belt | 1.17% | 1.18% | 1.18% | 1.18% | 1.18% |
| Manitowish Waters | N/A | N/A | N/A | N/A | N/A |
| Mercer | 1.39% | 1.39% | 1.39% | 1.39% | 1.47% |
| Montreal | 1.23% | 1.37% | 1.74% | 1.74% | 1.74% |
| Park Falls | 1.42% | 1.42% | 1.42% | 1.42% | 1.43% |
| Pence | 1.01% | 1.03% | 1.13% | 1.23% | 1.51% |
| Presque Isle | 1.39% | 1.39% | 1.39% | 1.39% | 1.39% |
| Saxon | 1.49% | 1.54% | 1.70% | 1.70% | 1.74% |
| Upson | 1.28% | 1.28% | 1.28% | 1.28% | 1.29% |
| Winchester | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Iron County, Wisconsin
In Iron County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Iron County Appraisal District. The assessed value, however, 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. Assessment notices in Iron County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, Presque Isle has the highest median tax bill at $3,185, while Iron Belt has the lowest at $437. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Iron County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Iron County Assessed Value
$97,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iron County, Wisconsin
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Butternut | $58,300 | $119,450 | $203,800 | $316,450 | $408,800 |
| Gile | $11,900 | $36,050 | $51,000 | $65,450 | $89,660 |
| Gurney | N/A | N/A | N/A | N/A | N/A |
| Hurley | $24,300 | $38,200 | $59,700 | $104,800 | $173,600 |
| Iron Belt | $8,900 | $20,700 | $36,800 | $58,000 | $92,320 |
| Manitowish Waters | N/A | N/A | N/A | N/A | N/A |
| Mercer | $63,800 | $103,900 | $173,200 | $256,825 | $354,940 |
| Montreal | $28,800 | $41,700 | $57,250 | $86,125 | $137,510 |
| Park Falls | $56,150 | $107,325 | $186,900 | $270,475 | $354,040 |
| Pence | $3,300 | $18,800 | $49,500 | $72,000 | $86,500 |
| Presque Isle | $103,800 | $150,500 | $229,600 | $358,650 | $454,300 |
| Saxon | $23,860 | $39,800 | $63,200 | $104,100 | $146,580 |
| Upson | $6,940 | $28,050 | $54,100 | $118,450 | $155,600 |
| Winchester | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Iron County, Wisconsin
In Iron County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. Homeowners can expect their tax bills to vary significantly depending on the assessed value of their property and the specific tax rate applied by local authorities. The median home price in Iron County is $97,500, and property tax bills can range widely. For example, the 25th percentile tax bill is $914, while the 75th percentile reaches $2,804, and the 90th percentile climbs to $4,151. This means that while some homeowners pay relatively low taxes, others face much higher bills. The highest median tax bill in the county is found in Presque Isle at $3,185, whereas Iron Belt has the lowest median tax bill at $437. These variations can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Iron County, Wisconsin
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Butternut | $816 | $1,656 | $2,880 | $4,385 | $5,876 |
| Gile | $473 | $688 | $913 | $1,190 | $1,590 |
| Gurney | N/A | N/A | N/A | N/A | N/A |
| Hurley | $521 | $900 | $1,345 | $1,974 | $2,848 |
| Iron Belt | $104 | $244 | $437 | $691 | $1,086 |
| Manitowish Waters | N/A | N/A | N/A | N/A | N/A |
| Mercer | $919 | $1,508 | $2,459 | $3,683 | $5,080 |
| Montreal | $422 | $677 | $933 | $1,347 | $2,173 |
| Park Falls | $821 | $1,616 | $2,661 | $3,948 | $5,048 |
| Pence | $51 | $335 | $643 | $805 | $889 |
| Presque Isle | $1,551 | $2,147 | $3,185 | $4,976 | $6,301 |
| Saxon | $403 | $649 | $1,043 | $1,745 | $2,494 |
| Upson | $89 | $359 | $692 | $1,528 | $2,020 |
| Winchester | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell