Equalized Values Report Shows Healthy Increase in Property Values in 2019

On Friday, the Wisconsin Department of Revenue released its annual Equalized Values Report. The report shows Wisconsin’s total statewide equalized property value as of January 1, 2020, was $613 billion, a 6 percent increase over the prior year; growth occurred in all property classifications. Equalized values are based on data from January 1, 2019 to January 1, 2020.

Report highlights:
• Change in Equalized Value = $32.2 Billion, a 6 percent increase from 2019
o $22.9 Billion due to market value increases (4 percent)
o $9.6 Billion due to new construction (2 percent)

Equalized Values are calculated annually and used to ensure statewide fairness and equity in property tax distribution. The Equalized Value represents an estimate of a taxation district’s total taxable value and provides for the fair apportionment of school district and county levies to each municipality. Changes in Equalized Value do not necessarily translate into a change in property taxes.