Waukesha reassessments in mail, values drop

Published on: 4/21/2011

Waukesha - Notices of this year's citywide reassessment will go in the mail Friday, "and values will be going down," according to Waukesha assessor Paul Klauck.

Citywide, the tax base, excluding manufacturing property whose values are set by the state, has dropped 6%, he said. Condominiums have seen some of the largest declines in value because of low market demand. Most property owners will see a 5% to 10% decline in the value of their homes under the last citywide reassessment, though some properties will drop by 15%, Klauck said.

A lower property assessment doesn't automatically translate into a lower tax bill. An individual bill depends on how that property declined or increased in relation to others, and whether the total tax levy increases, decreases or remains the same. The next budgets and levies will be adopted in the fall.

The city is typically reassessed every four years and was last revalued in 2009. Klauck said there were so many requests for review of property values last year that the city decided to issue new assessments this year based on current sales and cost information.

Property owners can question the assessor, review the assessment roll and compare assessments during an open book period between April 25 and May 13. The information will be on the city website, at City Hall and at the Waukesha Public Library.

Official objections and appeals are due to the Board of Review by May 20. The Board of Review will meet starting 8 a.m. May 23, Klauck said.