WISTAX: Statewide Property Values Grow Modestly

The Wisconsin Taxpayers Alliance (WISTAX) says property values statewide have risen for the second year in a row.   A report released yesterday by WISTAX shows that following a five-year decline, the current market value of all taxable property in Wisconsin rose by 2.4 percent in 2015 after increasing 2.6 percent in 2014.

Despite recent increases, however, at $490.7 billion, values remain almost $25 billion below the 2008 market peak of $514.4 billion, according to the WISXTAX report.

Among the state’s 20 largest cities, only Beloit (5.9%) and Kenosha (5.2%) had growth above 5 percent. Eau Claire (4.5%), Madison (4.3%), and La Crosse (3.6%) rounded out the top five. Most large cities in the Fox Valley recorded increases in the 2.5% range. The exception was Oshkosh. In addition to Oshkosh, values in six other large cities fell. With the exception of Wausau (-0.7%), all were in the industrial southeast. The state’s largest city, Milwaukee, was off slightly (-0.6%), though municipalities in its suburban ring generally grew.

The state’s 40 most populous counties reflected regional trends found in major cities. Counties in the west and northwest generally outperformed the state, with the Twin Cities’ bedroom counties of Pierce (6.7%) and St. Croix (6.2%) leading the way. Eau Claire, Chippewa, and Dunn counties all increased over 4%. Sub-par appreciation occurred in the north. For example, values in Douglas (0.0%), Oneida (0.5%), and Oconto (1.7%) all rose less than 2 percent. In the southeast, values in Manitowoc, Milwaukee, Sheboygan, and Walworth counties all rose less than 1 percent.

The new WISTAX report is based on preliminary data released by the state Department of Revenue. Detailed county-by-county value information is available on the WISTAX website.