Downing, Wisconsin Property Taxes
The median property tax rate in Downing, WI is 1.12%, slightly surpassing the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With a median home value of $212,700 in Downing, the typical annual property tax bill amounts to $2,286, which is below the national median of $2,690. Property taxes in Downing are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Downing'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 Downing or another part of St. Croix County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Downing, 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 Downing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Downing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Downing 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 Downing, Wisconsin
Property taxes in Downing, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Downing is 1.12%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Downing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Downing 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 Downing's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54734 zip code has the highest median property tax rate of 1.12%, while the same zip code also has the lowest median tax rate of 1.12%. Understanding how these areas compare with Downing 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 areas.
Average Downing Tax Rate
1.12%
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 Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | 1.03% | 1.04% | 1.12% | 1.35% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Downing, Wisconsin
In Downing, 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 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 Downing, 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 Downing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $2,286 in the 54734 zip code, while the lowest is also $2,286, highlighting the consistency in this region.
Average Downing Assessed Value
$212,700
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 Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | $91,680 | $142,800 | $212,700 | $229,200 | $309,540 |
Source: Ownwell
Property Tax Bills Across Downing, Wisconsin
In Downing, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors, who evaluate the property's market value. This value is then multiplied by the tax rate set by the local government to determine the annual tax bill. For instance, with a median home price of $212,700 in Downing, homeowners can expect varying tax bills. The 25th percentile tax bill is around $1,810, while the 75th percentile tax bill reaches approximately $2,896. At the 90th percentile, the tax bill is about $3,318. These figures illustrate how the assessed value and tax rate directly impact what homeowners pay. Compared to the national median property tax rate of 0.99%, Downing's tax bills reflect the specific economic and policy factors of St. Croix County. Homeowners in Downing should be aware of these assessments and rates, as they significantly influence their annual property tax obligations.
Average Downing Tax Bill
$2,286
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 Downing, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54734 | $1,072 | $1,810 | $2,286 | $2,896 | $3,318 |
Source: Ownwell