Record ID: 
Value Standard and Assessment Ratios: 

Property is assessed at 100% fair market value, except for agricultural property, which is assessed at 50% of fair market 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. §70.05(5)(d); Wis. Stat. § 70.32 (in effect for 2012)

Source Publication: 

Wisconsin Property Assessment Manual (2010) Wisconsin Department of Revenue, p. 7-6 [ Accessed 03/14/2011] /sites/default/files/gwipp/upload/sources/Wis...

Data Collection Notes: 

Major classes of property are determined only to assure accurate assessment within each class.
Assessed values must be within 10% of market value at least once in every four year period.

Revision Type: 

Revision By: 
Revision Notes: 

12/13/13 nw verified
12/2/13 AL cheked statutes and made record complete

new record 2008-AL
3/19/2012 GIR: updated, added footnotes 1 & 2
12/19/12 cc verified
4/2/2012 GIR: added statutes from spreadsheet