Wisconsin property values increase for second straight year

Freeman Staff

August 14, 2015

MADISON — A report from the Wisconsin Department of Revenue on Friday showed that property values in Wisconsin continue to see a steady growth and that the total statewide equalized property value as of Jan. 1 was $491 billion, a 2.4 percent increase compared to 2014.

The Equalized Value report equalizes the total values of each property classification for the 1,852 municipalities across Wisconsin. A local assessor determines the assessed value of individual properties — such as a home or farm — and that's what the tax bill is based on.  The local assessor then reports the total assessed value for each classification — such as residential, commercial or agricultural — to the Department of Revenue.

According to the report, Wisconsin residential property was valued at $345 billion, a $7.7 billion or 2.3 percent increase compared to 2014, which is the first multi-year increase since 2008 following Wisconsin’s 2.5 percent increase last year.

In 2014, Wisconsin added $5.9 billion in new construction, including $2.9 billion in residential property, $463 million in manufacturing property and $2.4 billion in commercial property.