Grantsburg, Wisconsin Property Taxes
The median property tax rate in Grantsburg, WI is 1.02%, slightly above the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Grantsburg at $66,950, the typical annual property tax bill amounts to $704, which is significantly below the national median of $2,690. Property taxes in Grantsburg are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Grantsburg'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 Grantsburg or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grantsburg, Wisconsin Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$3,160
Ownwell’s Grantsburg Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grantsburg with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Grantsburg to provide an estimate of your property tax bill. This insightful tool helps you understand your potential tax liabilities. For those interested in more detailed trends at a neighborhood level, you can scroll down to find localized information. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Grantsburg, Wisconsin
Property taxes in Grantsburg, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grantsburg is 1.02%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Grantsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grantsburg 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 Grantsburg's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54840 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Grantsburg provides valuable insights into the varying tax landscape across Burnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grantsburg Tax Rate
1.02%
Average Polk County Tax Rate
1.13%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | 0.88% | 0.97% | 1.02% | 1.07% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Grantsburg, Wisconsin
In Grantsburg, 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 Polk 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 Grantsburg, 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 Grantsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54840 has both the highest and lowest median tax bill of $704.
Average Grantsburg Assessed Value
$66,950
Average Polk County Assessed Value
$219,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | $29,280 | $44,625 | $66,950 | $120,300 | $180,300 |
Source: Ownwell
Property Tax Bills Across Grantsburg, Wisconsin
In Grantsburg, WI, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the local assessor and reflects the property's market value. Various factors such as property size, location, and condition are considered during the assessment. The median home price in Grantsburg stands at $66,950, influencing the overall tax burden. Homeowners in Grantsburg can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $431, while the 75th percentile tax bill reaches $1,266, and the 90th percentile tax bill goes up to $1,877. This range indicates the variability in assessed property values and tax rates within the area. Compared to the national median property tax rate of 0.99%, Grantsburg's property taxes can be relatively moderate, depending on individual property assessments. These tax bills directly impact homeowners' annual expenses, making it essential to understand how these figures are derived and what they mean for personal finances.
Average Grantsburg Tax Bill
$704
Average Polk County Tax Bill
$2,629
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantsburg, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54840 | $273 | $431 | $704 | $1,266 | $1,877 |
Source: Ownwell