54868 Property Tax Rate

Property owners in ZIP code 54868 (Rice Lake, Wisconsin) pay a median of $3,115/year in property taxes on homes valued at $199,300. This translates to an effective tax rate of 1.56%, which is 11% above the Wisconsin state average of 1.40%.

The monthly property tax burden for a median-valued home in 54868 is approximately $260, which factors into escrow payments on mortgages. This ZIP code is located within Barron County.

Compared to similar ZIP codes in Wisconsin, 54868 has higher property taxes. ZIP codes with similar effective rates include 54948 (1.56%) and 53190 (1.56%).

In Rice Lake, property taxes represent approximately 4.8% of the median household income of $64,567, providing context for the relative tax burden on homeowners in this area.

Wisconsin reassesses all properties annually to fair market value without a homestead exemption or cap; the Barron County Assessor adjusts residential valuations yearly. Apply for Wisconsin's Homestead Credit on your state income tax return if your household earns under $67,800 and the property is your primary residence — eligible homeowners save $50–$300 annually. File an objection with the Barron County Assessor by January 15 to challenge your assessment.