Clam Lake, Wisconsin Property Taxes
The median property tax rate in Clam Lake, WI is 0.90%, which is lower than both the national median of 0.99% and the Wisconsin state median of 1.58%. With a median home value of $198,600, the typical annual property tax bill in Clam Lake amounts to $1,726, falling below the national median of $2,690. Property taxes here are determined based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Clam Lake's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you reside in the heart of Clam Lake or elsewhere in Sawyer County, gaining insight into the local property tax system proves beneficial.
Last Updated June 14, 2024
Clam Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$1,787
$1,659
Ownwell’s Clam Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clam Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clam Lake 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 Clam Lake, Wisconsin
Property taxes in Clam Lake, Wisconsin, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clam Lake is 0.90%, which is slightly below the U.S. national median of 0.99%. Local government entities within Clam Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clam 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 Clam Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54517 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Clam Lake provides valuable insights into the varying tax landscape across Sawyer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clam Lake Tax Rate
0.90%
Average Sawyer County Tax Rate
0.89%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | 0.79% | 0.87% | 0.90% | 0.93% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Clam Lake, Wisconsin
In Clam 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 Sawyer County Assessor 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 Clam 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 Clam Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 54517 has the highest and lowest median tax bill, both at $1,726.
Average Clam Lake Assessed Value
$198,600
Average Sawyer County Assessed Value
$195,000
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | $85,290 | $125,400 | $198,600 | $290,275 | $391,530 |
Source: Ownwell
Property Tax Bills Across Clam Lake, Wisconsin
In Clam Lake, property tax bills are calculated based on the assessed value of the property and the local tax rate set by the county of Sawyer. The assessed value is determined by the county assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Clam Lake can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,056, while those at the 75th and 90th percentiles are $2,665 and $3,463, respectively. The median home price in Clam Lake is $198,600, and the property tax rate is higher than the national median of 0.99%. This variation in tax bills affects homeowners differently, with those owning higher-valued properties facing larger tax obligations. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax commitments.
Average Clam Lake Tax Bill
$1,726
Average Sawyer County Tax Bill
$1,766
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Clam Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54517 | $732 | $1,056 | $1,726 | $2,665 | $3,463 |
Source: Ownwell