Chetek, Wisconsin Property Taxes
The median property tax rate in Chetek, WI is 1.29%, which is notably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Chetek at $179,400, the typical annual property tax bill amounts to $2,336, which is below the national median of $2,690. Property taxes in Chetek are determined based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Chetek's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Chetek or another part of the city, gaining insight into the local property tax system will provide significant financial benefits.
Last Updated June 14, 2024
Chetek, 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 Chetek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chetek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chetek 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 Chetek, Wisconsin
Property taxes in Chetek, Wisconsin, play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Chetek is 1.29%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Chetek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chetek 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 Chetek's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the zip code 54728 has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Chetek provides valuable insights into the varying tax landscape across Barron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chetek Tax Rate
1.29%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chetek, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54728 | 1.14% | 1.22% | 1.29% | 1.32% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Chetek, Wisconsin
In Chetek, 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 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 Chetek, 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. With a median home price of $179,400, the 25th percentile tax bill is $1,464, and the 75th percentile tax bill is $3,250. Chetek also has the highest and lowest median tax bill, both amounting to $2,336 in the 54728 zip code. Being aware of these valuation processes in Chetek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chetek Assessed Value
$179,400
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 Chetek, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54728 | $63,120 | $115,450 | $179,400 | $254,450 | $365,320 |
Source: Ownwell
Property Tax Bills Across Chetek, Wisconsin
In Chetek, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $179,400, homeowners in Chetek can expect varying tax bills. The 25th percentile tax bill is around $1,464, while the 75th percentile reaches up to $3,250, and the 90th percentile can be as high as $4,869. These figures reflect how property taxes can significantly impact homeowners' finances, depending on the assessed value and specific tax rate applied. Comparatively, Chetek's property tax rates can be contrasted with the national median property tax rate of 0.99%. Homeowners in Chetek should be aware of these variations and consider them when budgeting for annual expenses. Understanding how property taxes are calculated and the factors influencing them is crucial for homeowners to manage their financial planning effectively.
Average Chetek Tax Bill
$2,336
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Chetek, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54728 | $780 | $1,464 | $2,336 | $3,250 | $4,869 |
Source: Ownwell