Wisconsin Property Tax Consultant

Table of Contents

Property Tax Consulting in Madison and Milwaukee

The 2023 Guide to Wisconsin Real Estate Assessments

Wisconsin Property Taxation

The real property tax process begins with an assessment of the real estate. In Wisconsin, the effective date of the assessment (assessed value) in any given year is as of January 1^st of that year. For example, for a property's 2023 assessment, the assessed value is as of January 1, 2023. Likewise, January 1, 2022 is the effective date of assessment for tax year 2022.

The party responsible for property tax assessments in Wisconsin is called the Assessor. The Assessor's job is to research, discover, and establish uniform values on all taxable property. The goal of the assessor is to ensure that the property tax burden is distributed fairly among all property owners. The assessor does not create value but interprets what is happening in the marketplace in regards to property values. WI Statutes 70.32 explains how real estate is valued for assessment purposes. Additionally, a change in an assessed value does not automatically translate into a change in property taxes.

Assessed Value vs. Market Value

Wisconsin law requires that all assessments be based on fair market value.

The assessment, or assessed value, differs from the fair market value of a property. Assessed Value is defined in The Dictionary of Real Estate Appraisal, 7th Edition (2022), as “the value of a property according to the tax rolls in ad valorem taxation; may be higher or lower than market value, or based on an assessment ratio that is a percentage of market value.”

The valuation of commercial property involves several factors, and can often lead to complexities. Market and industry trends, location, interest rates, investor behavior, market cycles, demographics, vacancy rates, and supply and demand all weigh-in on the determination of a particular commercial property’s fair market value.

Often times, the municipal assessor does not have as detailed financial records about a particular property as the property owner does. Additionally, the many factors that are evaluated in determining a particular property’s fair market value are constantly moving. Coupling this with the assessor having to provide timely assessments to all of the properties in the assessor’s jurisdiction, can sometimes lead to inaccurate property assessments. If an assessor over-estimates a property’s fair market value, then the assessment value will also be over-estimated. All else being equal an over-estimated assessed value will lead to a higher property tax burden.

Assessment Ratio

In many jurisdictions, including municipalities in the Southeastern Wisconsin and the Milwaukee Metro, the assessed value is generally a certain percentage of the assessor’s estimate of fair market value. For example, if an assessor’s estimate of fair market value is $100,000 for a particular property, and the assessment ratio in this jurisdiction is 110%, then the assessed value would be $110,000 ($100,000 * 110%). Additionally, if the assessment ratio is 90%, then the assessed value for this property would be $90,000 ($100,000 * 90%). Assessment ratios can change from year-to-year, so it’s wise to keep an eye on the assessment ratio being applied to your property. In the City of Milwaukee, the 2018 assessment ratio.

Burden of Proof

In Wisconsin, the burden of proof is on the property owner to show that the assessment does not represent the market value of his/her property. Given that the burden of proof is on the owner, having a credible and well-supported analysis/appraisal to support your assessment is crucial. ValCore Appraisal is experienced in many facets of the commercial real estate industry, and can assist you in lowering your property tax assessment. We provide a free consultation, and can assist you if there is market evidence that supports a lower assessment.

Important Real Estate Tax Dates in Wisconsin

January 1: Effective date of assessed value
January 31: Tax bills due (some municipalities allow payments in installments)
May through October: Window to appeal assessment (varies by jurisdiction)
May through October: Assessed value notices issued (varies by jurisdiction)
December: Property tax bills issued by taxing jurisdiction

Largest Property Assessment Companies in Wisconsin

The following three companies provide the majority of assessments services for many of Wisconsin's municipalities. (Listed in alphabetical order.)

Accurate Appraisal LLC Assessor
AssessorData
Associated Appraisal Consultants, Inc.

How to Appeal Property Taxes in Milwaukee, Wisconsin

The following the general process of appealing property taxes in the City of Milwaukee. (Although, the COVID-19 pandemic has significantly increased the wait time for board of review meetings.)

Mid-to-late April of tax year. The property owner will receive letter in the mail regarding a notice of change in assessment for the current tax year (if the assessed value changed from the prior year).
Request a formal objection form. Send an email to assessor@milwaukee.gov requesting an objection form. Given that the appeal forms are property-specific, make sure to provide the property address and the property tax parcel number in the email. The assessor's office will then send you an objection form with the property data filled out.
Third Monday in May. The property owner must submit the formal objection form by 4:45PM of the third Monday in May of the tax year. Paper forms can be found at the Assessor's Office, at City Hall (200 E. Wells St., Room 507). You may also request a Objection Form to be sent to you via email by calling the Assessor's Office. It's wise to ask for a time-stamped copy of the appeal form.
Notice of inspection. Some property owners may receive a notice of inspection letter from the Assessor's Office, requesting for an assessor to conduct a physical interior inspection of the subject real estate. The property owner has ten (10) working days to respond to the Assessor's Office to schedule an appointment for an interior inspection to be completed. If the property owner denies an inspection, "the current assessment will remain unchanged and your rights to appear before the Board of Review may be denied," according to the City of Milwaukee.
Late spring/ early summer. Physical property inspection conducted by a City Assessor (if applicable). Inspections generally take about 30 minutes.
Lake spring/early summer. Board of Review (BoR) meets to consider assessment appeals and provide determinations.
Summer (generally early-to-mid July of tax year). The property owner will receive a letter of determination from the Assessor's Office. If the property owner agrees with the determination, no further action is required; however, if the property owner wishes to appeal the determination of assessment, then an appeal to the Board of Review must be made by the method(s) described by the BoR in the letter attached to the determination letter. In the most recent years, the Board of Review requested a written request to appeal assessment within fifteen (15) consecutive days of the date of notice of the determination letter.
Summer. Submit a written request to appeal assessment within fifteen (15) consecutive days of the date of the determination letter. (Notice that the letter mentions within 15 days of the date of the letter, and not within fifteen days of the property owner receiving the letter.) The written request should include the property address, tax key number, and file number.
Fall/Winter. Notice of scheduled Board of Review meeting.
Fall/Winter. Board of Review meeting. It is important to go prepared into this meeting, as it gives the property owner or representative the chance to present evidence that supports his/her estimate of the property's fair market value. This is where having an independent appraisal report could be invaluable as a supportive tool.

City of Milwaukee Property Tax Links

City of Milwaukee Property Assessment Lookup

City of Milwaukee Real Estate Property Tax Lookup

City of Milwaukee Treasurer (Property tax payments are paid to the City Treasurer)

Property Tax Frequently Asked Questions

How does Wisconsin’s property tax rate compare with other states?

What is an assessment ratio and how is it calculated?

The assessment ratio is the relationship between the assessed value and estimate fair market value (expressed as a percentage). The 2018 assessment ratio in the City of Milwaukee was 100.10% (1.001). For example, if the assessor's estimate of fair market value for a property was $100,000 for tax year 2018, the assessed value would be $100,100.

Do you have to let a tax assessor in your house in Wisconsin?

A property owner may deny the assessor entry onto his or her property. However, providing the assessor access to the property (including an interior inspection) will give the assessor more information and could lead to the assessor providing a more accurate assessment.

It is important to note that denying an interior inspection requested by the City of Milwaukee (for residents of the City) during an assessment appeal, may result in the assessment remaining unchanged, and the rights of the owner to appear before the Board of Review may be denied.

Additionally, the Wisconsin Department of Revenue has stated "if facts exist making an interior view necessary to complete an accurate valuation, the assessor may seek a special inspection warrant under state law, to view the interior of the home."

What entity is in charge of assessing manufacturing property in the State of Wisconsin?

The Wisconsin Department of Revenue provides assessment of manufacturing facilities in Wisconsin.

What is a millage rate?

The millage rate (also known as "mill rate") is a number expressed as a percentage of 1,000. For example, the City of Milwaukee's mill rate in 2018 was 25.88 per 1,000 of assessed value, which equates to a property tax rate of 2.588% of assessed value, calculated as follows: 25.88/1,000 = 2.588%.

Additional Property Tax Resources

ValCore’s Property Tax Consulting Service

ValCore Appraisal provides real estate property tax consulting services throughout Wisconsin, and primarily in the Kenosha-Racine, Madison, and Milwaukee-Waukesha Metro areas.

Our commercial tax consulting services include an independent commercial property valuation, advising clients on the options available, and assisting clients in the steps to take in achieving a re-assessment. We offer consulting services on an on-going basis throughout the appeal process and beyond.