New Richmond, St. Croix County, Wisconsin Property Taxes
The median property tax rate in New Richmond, WI is 1.51%, which is considerably higher than the national median of 0.99% but slightly lower than the Wisconsin state median of 1.58%. With a median home value of $269,800 in New Richmond, the typical annual property tax bill reaches $3,880, significantly exceeding the national median of $2,690. Property taxes in New Richmond are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding New Richmond'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 New Richmond 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
New Richmond, St. Croix County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$4,074
$3,781
Ownwell’s New Richmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Richmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Richmond 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 New Richmond, St. Croix County, Wisconsin
Property taxes in New Richmond, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Richmond is 1.51%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within New Richmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Richmond 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 New Richmond's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 54017 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with New Richmond 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 New Richmond Tax Rate
1.51%
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 New Richmond, St. Croix County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54017 | 1.13% | 1.21% | 1.51% | 1.57% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across New Richmond, St. Croix County, Wisconsin
In New Richmond, 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 New Richmond, 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 New Richmond is $269,800, with tax bills ranging from $3,074 at the 25th percentile to $6,268 at the 90th percentile. 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 New Richmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Richmond, St. Croix County, Wisconsin
Source: Ownwell
$151,900
$284,225
$416,550
Average New Richmond Assessed Value
$269,800
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 New Richmond, St. Croix County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54017 | $165,300 | $213,000 | $269,800 | $354,075 | $451,180 |
Source: Ownwell
Property Tax Bills Across New Richmond, St. Croix County, Wisconsin
In New Richmond, located in St. Croix County, 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's office, which evaluates the property's market value. This assessed value is then multiplied by the tax rate to determine the annual tax bill. For example, the median home price in New Richmond is $269,800. Given the local tax rates, homeowners in this area can expect to pay property taxes ranging from $3,074 at the 25th percentile to $6,268 at the 90th percentile. The median tax bill in the area is $3,880, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Higher property taxes can impact homeowners by increasing the overall cost of homeownership, but they also contribute to maintaining and improving community services and facilities.
Property Tax Bills Across New Richmond, St. Croix County, Wisconsin
Source: Ownwell
$2,284
$3,651
$5,018
Average New Richmond Tax Bill
$3,880
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 New Richmond, St. Croix County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54017 | $2,353 | $3,074 | $3,880 | $4,908 | $6,268 |
Source: Ownwell