01.20.2010 - No. 1

Questions about property taxes abound every year at this time, but they are particularly plentiful now. Part of the reason is short-term: job losses, a depressed real estate market, and rare cuts in state aid to local governments and schools.

Other reasons for property tax confusion are timeless. Many taxpayers do not understand how individual properties and entire communities are valued for tax purposes. And even fewer appreciate how tax changes vary within a county or school district due to local conditions.

Basic concepts

To avoid such confusion, it helps to understand a few concepts about Wisconsin’s property tax system:

• A municipality is responsible for determining the market value (assessment) of each property within its boundaries.

• Not all municipalities keep their assessments current, although some large ones can, thanks to computers and full-time staff. However, many municipalities update them only when state law requires it...

Excerpt from Focus #1