Clear Lake, Wisconsin Property Taxes
The median property tax rate in Clear Lake, WI is 1.26%, which is notably higher than the national median of 0.99% but lower than Wisconsin's state median of 1.58%. With a median home value of $200,350, the typical annual property tax bill in Clear Lake reaches $2,532, slightly below the national median of $2,690. Property taxes in Clear Lake 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 Clear 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 Clear Lake or another part of St. Croix County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clear Lake, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$2,524
Ownwell’s Clear Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clear Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clear 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 Clear Lake, Wisconsin
Property taxes in Clear 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 Clear Lake is 1.26%, significantly higher than the U.S. national median of 0.99%. Local government entities within Clear Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clear 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 Clear Lake's effective property tax rate to other areas within St. Croix County and the national median. For comparison, the 54005 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these areas compare with Clear Lake provides valuable insights into the varying tax landscape across St. Croix County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Clear Lake Tax Rate
1.26%
Average St. Croix County Tax Rate
1.50%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | 1.17% | 1.22% | 1.26% | 1.32% | 1.34% |
Source: Ownwell
Property Tax Assessment Values Across Clear Lake, Wisconsin
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clear Lake, 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 St. Croix 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 Clear 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. For instance, the median home price in Clear Lake is $200,350, with tax bills ranging from $1,770 at the 25th percentile to $4,081 at the 90th percentile. The highest and lowest median tax bills are both $2,532 in the 54005 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clear Lake Assessed Value
$200,350
Average St. Croix County Assessed Value
$270,500
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | $73,160 | $144,025 | $200,350 | $250,175 | $306,410 |
Source: Ownwell
Property Tax Bills Across Clear Lake, Wisconsin
In Clear Lake, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local assessor and reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. This rate is influenced by various factors, including municipal budgets, school funding needs, and public services. Homeowners in Clear Lake face a range of property tax bills. For instance, the 25th percentile tax bill is around $1,770, while the 75th percentile tax bill reaches $3,178. At the higher end, the 90th percentile tax bill can go up to $4,081. These figures illustrate the variability in tax obligations depending on property values and specific local factors. Compared to the national median property tax rate of 0.99%, Clear Lake's tax bills can significantly impact homeowners, especially those with properties at the higher end of the market. Understanding these factors can help homeowners anticipate their annual tax obligations and plan accordingly.
Average Clear Lake Tax Bill
$2,532
Average St. Croix County Tax Bill
$3,981
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Clear Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54005 | $943 | $1,770 | $2,532 | $3,178 | $4,081 |
Source: Ownwell