Report: WI Property Values Drop for 5 Straight Years
The value of taxable property in Wisconsin fell 0.8 percent, to $467.5 billion between 2012 and 2013. That’s according to a new report by the Wisconsin Taxpayers Alliance. It says the state had not seen five consecutive years of declining values since World War II.
The organization says 45 of the state’s 72 counties had lower property valuations. The counties with the largest drops were: Adams (-5.0 percent), Menominee (-6.9 percent), Lincoln (-4.9 percent), Racine (-4.8 percent), and Vilas (-4.7 percent).
The report says four counties had increases of 3.0 percent or more: Monroe (5.4 percent), Clark (3.4 percent), St. Croix (3.2 percent), and Barron (3.0 percent).
The Wisconsin Taxpayers Alliance says all kinds of property showed signs of a rebound. The organization predicts a “more promising” future, because property values showed signs of stabilizing, while the housing market also “appears to be gaining confidence.”