Pell Lake, Wisconsin Property Taxes
The median property tax rate in Pell Lake, WI is 1.32%, considerably higher than the national median of 0.99% but lower than the Wisconsin state median of 1.58%. With the median home value in Pell Lake at $127,622, the typical annual property tax bill reaches $1,683, which is below the national median of $2,690. Property taxes in Pell Lake are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pell 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 Pell Lake 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
Pell Lake, 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 PELL LAKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PELL LAKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PELL 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 Pell Lake, Wisconsin
Property taxes in Pell Lake, Wisconsin, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pell Lake is 1.32%, higher than both the Wisconsin state median and the U.S. national median of 0.99%. Local government entities within Pell Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pell 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 Pell Lake's effective property tax rate to other counties in Wisconsin and the national median. For comparison, the 53157 zip code has both the highest and lowest median property tax rate of 1.32%. Understanding how these cities compare with Pell Lake provides valuable insights into the varying tax landscape across Walworth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pell Lake Tax Rate
1.32%
Average Walworth County Tax Rate
1.30%
Average Wisconsin Tax Rate
1.58%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53157 | 1.32% | 1.32% | 1.32% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Pell Lake, Wisconsin
In Pell 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 Walworth 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. 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 highest and lowest median tax bills in Pell Lake are both $1,683, found in the zip code 53157. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pell Lake Assessed Value
$127,622
Average Walworth County Assessed Value
$260,578
Average Wisconsin Assessed Value
$200,300
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53157 | $127,622 | $127,622 | $127,622 | $127,622 | $127,622 |
Source: Ownwell
Property Tax Bills Across Pell Lake, Wisconsin
In Pell Lake, located in Walworth County, WI, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors who evaluate the property's market value. Homeowners in Pell Lake face a median property tax bill of $1,683, which is relatively high compared to the national median property tax rate of 0.99%. This amount remains consistent across different percentiles, indicating a uniform tax rate within the area. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The local government uses these funds to support public services such as schools, infrastructure, and emergency services. For homeowners, this means that higher property values and tax rates can lead to increased annual tax bills. Understanding these factors can help homeowners anticipate their tax liabilities and possibly seek exemptions to reduce their financial burden.
Average Pell Lake Tax Bill
$1,683
Average Walworth County Tax Bill
$3,583
Average Wisconsin Tax Bill
$3,346
Average United States Tax Bill
$2,690
Property Tax Bills Across Pell Lake, Wisconsin
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 53157 | $1,683 | $1,683 | $1,683 | $1,683 | $1,683 |
Source: Ownwell