Ladysmith, Wisconsin Property Taxes
The median property tax rate in Ladysmith, WI is 1.44%, which is higher than the national median of 0.99% but lower than Wisconsin's state median of 1.58%. With the median home value in Ladysmith at $87,750, the typical annual property tax bill amounts to $1,335, which is below the national median of $2,690. Property taxes in Ladysmith are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Ladysmith'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 Ladysmith 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
Ladysmith, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,264
Ownwell’s Ladysmith Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ladysmith with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ladysmith 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 Ladysmith, Wisconsin
Property taxes in Ladysmith, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ladysmith is 1.44%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Ladysmith set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ladysmith 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 Ladysmith's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54848 zip code has both the highest and lowest median property tax rate of 1.44%. Understanding how these cities compare with Ladysmith 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 Ladysmith Tax Rate
1.44%
Average Rusk County Tax Rate
1.18%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ladysmith, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54848 | 0.94% | 1.11% | 1.44% | 1.97% | 2.14% |
Source: Ownwell
Property Tax Assessment Values Across Ladysmith, Wisconsin
In Ladysmith, 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 Assessor's Office 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 Ladysmith, 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. Ladysmith has a median home price of $87,750, with the 25th percentile tax bill at $799 and the 75th percentile tax bill at $2,112. The highest and lowest median tax bills are both $1,335, found in the 54848 zip code. Being aware of these valuation processes in Ladysmith helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ladysmith Assessed Value
$87,750
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 Ladysmith, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54848 | $30,030 | $53,300 | $87,750 | $143,225 | $196,770 |
Source: Ownwell
Property Tax Bills Across Ladysmith, Wisconsin
In Ladysmith, WI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the property's location within Rusk County and any applicable exemptions can influence the final amount. For instance, homeowners in Ladysmith can expect property tax bills to vary significantly, with the 25th percentile at around $799 and the 75th percentile reaching up to $2,112. The highest median tax bill in the area is $1,335, indicating a range of tax burdens depending on property values. Compared to the national median property tax rate of 0.99%, Ladysmith's tax rates reflect the local economic conditions and property values. This system ensures that homeowners contribute fairly to local services and infrastructure, but it also means that higher-valued properties will see higher tax bills, impacting household budgets accordingly.
Average Ladysmith Tax Bill
$1,335
Average Rusk County Tax Bill
$1,304
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Ladysmith, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54848 | $394 | $799 | $1,335 | $2,112 | $3,004 |
Source: Ownwell