Assessment Process

Assessor

The assessor is a contracted service for the City and is responsible for establishing the fair market value of all taxable property in the City (excluding manufacturing). The assessor is responsible for conducting the "Revaluation" and annual "Maintenance" of property within the City.

Equalized Value

The State of Wisconsin maintains an estimated total market value of all taxable properties within the City, called the Equalized Value. Equalized Value is based on property information maintained by the assessor’s office, and the analysis of market trends including recent property sales in the City. If the City’s combined property values assigned by the assessor differ from the state's Equalized Value by more than 10%, a revaluation is needed. 

Revaluation

A revaluation is the process of determining the current market value of all taxable property within the City. Included in this process is the physical review of all land and buildings/improvements. The basic objective of a revaluation is to achieve equity in the assessments so each property bears only its fair share of the property tax burden. 

Maintenance

When there are significant changes to a taxable property, the assessor will establish a new market value of the property. These changes include new construction, major improvements to existing buildings, or a significant change in land use. This annual adjustment to the assessed value of property is referred to as annual "Maintenance".