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Posted on: April 26, 2019

2019 Property Assessment Revaluation Project

Notice! Open Book period began on June 28th. Property owners who are interested in meeting with the Assessor to discuss their assessment notice should call 262-395-4447 to schedule an in-person appointment to occur within the next few weeks.

Important Information:

2019 Assessed Values

2019 Assessed Values with Property Data 

2019 Assessment Insert

Impact on Taxes:
As is common following a property assessment revaluation project, the Village of Whitefish Bay has been receiving inquiries about the impact that revised assessments will have on property taxes. There is a misconception that an increased assessment will automatically lead to a tax increase.

Overall, the Village of Whitefish Bay experienced a 16% increase in assessed value. However, revaluations are revenue neutral. In other words, an increase in total property value does not necessarily mean that the Village of Whitefish Bay and/or other taxing jurisdictions will collect more tax dollars. Property assessments are used to determine each owner’s share of the total tax burden. Therefore, some owner’s shares will increase, some will decrease and some will stay about the same depending on how their assessment changed in relation to the average increase of 16%. Property owners may schedule an Open Book appointment to discuss their property assessment with a member of the Assessor’s staff by calling (262) 395-4447.

The 2019 tax rate will be available in December after each of the different taxing authorities (Milwaukee County, Village of Whitefish Bay, Whitefish Bay School District, MATC, and MMSD) have established their respective tax levies. 

Project Information:

The Assessor’s Office has recently updated its schedule for the village-wide revaluation. Tyler Technologies’ Appraisal and Tax Division was contracted to complete the revaluation, as well as perform assessor services for the Village. 

The last village-wide revaluation was conducted in 2014. Since then, the average level of assessment or assessment ratio (assessed value compared to actual market value) fell to to 90% and would drop to the 85% to 86% range in 2019 without performing a revaluation. State law provides for a timetable for a municipality to complete a revaluation once the assessment ratio falls below 90%. The 2019 revaluation will bring assessments back to near 100% of market value in order to comply with state statutes.  

Properties that sold during the previous two years will be researched and considered in establishing new values throughout the community. The 2018 (previous year) assessments were still based off of sales that occurred during 2012 and 2013.

Initially for the first phase of the revaluation, representatives of Tyler Technologies will be in the field updating digital images of the homes and businesses in the village. These images will assist the Assessor’s Office in establishing your 2019 assessment, as well as ensuring the assessment records are current to date with exterior information.

It is important to note that the revaluation process in itself does not mean more taxes; that is, property values are adjusted to reflect current market conditions throughout the village, leading to a more equitable distribution of taxes based on the current market value of each property.  

Property owners should expect to receive a notice of their 2019 assessment in late June 2019. The value on that notice is intended to represent the full market value of that property as of January 1, 2019, as indicated by comparable sales in the village and will include instructions on how to contact the assessor’s office in order to discuss the 2019 assessment if desired, as well as the dates for the Open Book and Board of Review.

The “Open Book” period is the time owners may informally discuss the 2019 value with representatives of Tyler Technologies if they are in disagreement with the value or have general questions.  The Board of Review is a formal appeal process that operates similar to a court and property owners must prove by way of evidence and testimony that the assessment is incorrect when appealing an assessment to the Board of Review. 

The 2019 assessed values of properties will be reflected on the tax bills in December of 2019. If you have any questions regarding the revaluation, please contact the Assessor’s Office at 414-962-6690 extension 124.

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