Rib Lake, Wisconsin Property Taxes
The median property tax rate in Rib Lake, WI is 1.62%, considerably higher than both the national median of 0.99% and the Wisconsin state median of 1.58%. With the median home value in Rib Lake at $133,850, the typical annual property tax bill reaches $2,517, slightly below the national median of $2,690. Property taxes in Rib Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rib 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 Rib 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
Rib Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$2,168
$2,012
Ownwell’s Rib Lake Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Rib Lake. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Rib Lake to provide an accurate property tax estimate. This tool offers a clear understanding of potential tax liabilities, allowing you to plan your finances better. For those interested in neighborhood-level trends, scrolling down reveals more localized information. Remember, your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Rib Lake, Wisconsin
Property taxes in Rib Lake, Wisconsin, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rib Lake is 1.62%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Rib Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rib 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 Rib Lake's effective property tax rate to other regions in Wisconsin and the national median. For comparison, the 54470 zip code in Price County has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these areas compare with Rib Lake provides valuable insights into the varying tax landscape across Price County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rib Lake Tax Rate
1.62%
Average Price County Tax Rate
1.67%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rib Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | 1.39% | 1.58% | 1.62% | 1.68% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Rib Lake, Wisconsin
In Rib 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 Price 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 Rib 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 Rib Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rib Lake was $2,517 in the zip code 54470, which is significantly higher than the national median property tax rate of 0.99%.
Average Rib Lake Assessed Value
$133,850
Average Price County Assessed Value
$88,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rib Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | $17,330 | $62,250 | $133,850 | $219,100 | $265,090 |
Source: Ownwell
Property Tax Bills Across Rib Lake, Wisconsin
In Rib Lake, property tax bills are determined based on the assessed value of a property, which is derived from the market value. The assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including property size, location, and improvements made to the property. Homeowners in Rib Lake can expect varying tax bills depending on their property’s value. For example, the tax bill at the 25th percentile is around $1,031, while at the 75th percentile, it rises to approximately $3,626. The tax bill for properties at the 90th percentile can reach up to $4,333. These property taxes significantly impact homeowners by contributing to local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Rib Lake's property taxes can vary widely, reflecting the diversity in property values and local tax rates within the region.
Average Rib Lake Tax Bill
$2,517
Average Price County Tax Bill
$1,546
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Rib Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | $250 | $1,031 | $2,517 | $3,626 | $4,333 |
Source: Ownwell