Bruce, Wisconsin Property Taxes
The median property tax rate in Bruce, WI is 1.06%, slightly higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value in Bruce of $107,000, the typical annual property tax bill amounts to $1,157, which is below the national median of $2,690. Property taxes in Bruce are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bruce'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 Bruce 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
Bruce, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$1,134
Ownwell’s Bruce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bruce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruce 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 Bruce, Wisconsin
Property taxes in Bruce, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bruce is 1.06%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Bruce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruce 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 Bruce's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54819 zip code has the highest median property tax rate of 1.06%, while the 54819 zip code has the lowest median tax rate of 1.06%. Understanding how these cities compare with Bruce provides valuable insights into the varying tax landscape across Rusk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruce Tax Rate
1.06%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruce, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54819 | 0.86% | 0.97% | 1.06% | 1.14% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Bruce, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bruce, Wisconsin. 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 Rusk 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 Bruce, 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 Bruce is $107,000, with tax bills ranging from $687 at the 25th percentile to $2,420 at the 90th percentile. The zip code 54819 has both the highest and lowest median tax bill, valued at $1,157. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bruce Assessed Value
$107,000
Average Rusk County Assessed Value
$102,350
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruce, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54819 | $36,880 | $65,700 | $107,000 | $162,650 | $222,340 |
Source: Ownwell
Property Tax Bills Across Bruce, Wisconsin
In Bruce, WI, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Factors such as property size, location, and improvements can influence this value. For instance, the median home price in Bruce is $107,000. Homeowners in Bruce experience a range of tax bills. At the 25th percentile, the tax bill is around $687, while at the 75th percentile, it rises to $1778. The 90th percentile sees tax bills as high as $2420. The median tax bill in the highest and lowest zip codes is $1157. Compared to the national median property tax rate of 0.99%, Bruce's property tax rates can significantly impact homeowners. Those with higher-valued properties or extensive improvements may face larger tax bills, affecting their overall financial planning and housing affordability.
Average Bruce Tax Bill
$1,157
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruce, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54819 | $349 | $687 | $1,157 | $1,778 | $2,420 |
Source: Ownwell