Gurney, Wisconsin Property Taxes
The median property tax rate in Gurney, WI is 1.54%, which is considerably higher than the national median of 0.99% but slightly below the Wisconsin state median of 1.58%. With the median home value in Gurney at $86,400, the typical annual property tax bill comes to $1,326, which still surpasses the national median of $2,690. Property taxes in Gurney are calculated based on the tax assessed value, often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Gurney'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 Gurney or another part of Iron County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gurney, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$1,331
$1,235
Ownwell’s Gurney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gurney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gurney 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 Gurney, Wisconsin
Property taxes in Gurney, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gurney is 1.54%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Gurney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gurney 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 Gurney's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54559 zip code has the highest median property tax rate of 1.54%, while the 54559 zip code also has the lowest median tax rate of 1.54%. Understanding how these cities compare with Gurney provides valuable insights into the varying tax landscape across Iron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gurney Tax Rate
1.54%
Average Iron County Tax Rate
1.39%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gurney, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | 1.54% | 1.54% | 1.54% | 1.54% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Gurney, Wisconsin
In Gurney, 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 Iron 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 Gurney, 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 Gurney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gurney is $86,400, with the median tax bill consistently at $1,326 across all percentiles. The highest and lowest median tax bills are both found in zip code 54559, reflecting a uniform tax environment.
Average Gurney Assessed Value
$86,400
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 Gurney, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | $86,400 | $86,400 | $86,400 | $86,400 | $86,400 |
Source: Ownwell
Property Tax Bills Across Gurney, Wisconsin
In Gurney, located in Iron County, WI, property tax bills are calculated based on the assessed value of a property. The local government assesses the value of a property, which is then multiplied by the tax rate set by the county. The median home price in Gurney is $86,400, and the property tax rate significantly impacts homeowners' annual tax bills. For instance, the median property tax bill in this area is $1,326. Several factors influence the tax bill, including property size, location, and any applicable exemptions. These assessments ensure that property taxes are distributed fairly among homeowners. Compared to the national median property tax rate of 0.99%, property taxes in Gurney can be considered relatively moderate. Homeowners should be aware of these calculations as they directly affect their annual financial obligations and the overall affordability of owning property in the area. Understanding how these factors interplay can help residents better manage their expenses and plan for future financial commitments.
Average Gurney Tax Bill
$1,326
Average Iron County Tax Bill
$1,604
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Gurney, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54559 | $1,326 | $1,326 | $1,326 | $1,326 | $1,326 |
Source: Ownwell