Record ID: 
Value Standard and Assessment Ratios: 

Residential, Commercial, Manufacturing, Forest and the Other classes are assessed at fair market value. Personal Property is assessed at its true cash value. Agricultural-Forest and Undeveloped classes are assessed at 50% of full value. Agricultural land is assessed at its use value.

Definition of Value Standard: 

Fair market value is the amount the property will sell for in an arms-length transaction on the open market between a willing seller not obliged to sell the property and a willing buyer not obliged to purchase it.

How are Land and Improvements Valued: 
The state requires that land and improvements are valued separately for all types of property
Source State Statutes: 

Wis. Stat. § 70.32 (in effect for 2008)

Source Publication: 

Guide to the Property Assessment Process for Wisconsin Municipal Officials (2005) Wisconsin Department of Revenue [ Accessed 04/09/2010] /sites/default/files/gwipp/upload/sources/Wis...


Revision Type: 

Revision By: 
Revision Notes: 

new record 2008-AL