Rib Lake, Taylor County, Wisconsin Property Taxes
The median property tax rate in Rib Lake, WI is 1.53%, which is notably 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 $108,000 in Rib Lake, the typical annual property tax bill amounts to $1,744, which is below the national median of $2,690. Property taxes in Rib Lake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rib 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 Rib Lake or another part of Taylor County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rib Lake, Taylor County, Wisconsin Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,652
$1,533
Ownwell’s Rib Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rib Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rib 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 Rib Lake, Taylor County, Wisconsin
Property taxes in Rib Lake, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rib Lake is 1.53%, significantly higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Rib Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rib 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 Rib Lake's effective property tax rate to other areas in Wisconsin and the national median. For comparison, the 54470 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these areas compare with Rib Lake provides valuable insights into the varying tax landscape across Taylor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rib Lake Tax Rate
1.53%
Average Taylor County Tax Rate
1.43%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rib Lake, Taylor County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | 1.24% | 1.42% | 1.53% | 1.62% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Rib Lake, Taylor County, Wisconsin
In Rib 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 local 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. Assessment notices in Rib Lake 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 Rib Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Rib Lake is $108,000, with tax bills ranging from $1,077 at the 25th percentile to $3,577 at the 90th percentile. The highest and lowest median tax bills are both $1,744 in the 54470 zip code.
Property Tax Assessment Values Across Rib Lake, Taylor County, Wisconsin
Source: Ownwell
$79,950
$110,725
$141,500
Average Rib Lake Assessed Value
$108,000
Average Taylor County Assessed Value
$122,900
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rib Lake, Taylor County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | $39,880 | $70,750 | $108,000 | $165,350 | $230,410 |
Source: Ownwell
Property Tax Bills Across Rib Lake, Taylor County, Wisconsin
In Rib Lake, located in Taylor County, WI, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Rib Lake is $108,000. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions or deductions. For instance, homeowners in Rib Lake could see tax bills ranging from $1,077 at the 25th percentile to $2,524 at the 75th percentile, with the 90th percentile reaching up to $3,577. The highest median tax bill in the area is $1,744, which matches the lowest, both found in the 54470 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure. Comparatively, Rib Lake's property tax rates are competitive, providing value to homeowners while supporting community development. Understanding these factors can help homeowners anticipate their annual financial obligations and plan accordingly.
Average Rib Lake Tax Bill
$1,744
Average Taylor County Tax Bill
$1,816
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Rib Lake, Taylor County, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 54470 | $493 | $1,077 | $1,744 | $2,524 | $3,577 |
Source: Ownwell