State: 

Year: 

Record ID: 
WI001_AS09
Value Standard and Assessment Ratios: 

Class 1 residential, class 2 commercial, class 3 manufacturing, class 4 forest and the Other classes are assessed at fair market value. Personal Property is assessed at its true cash value. Class 5m agricultural-forest and class 5 undeveloped classes are assessed at 50% of full value. Class 4 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 2009)


Source Publication: 

Guide to the Property Assessment Process for Wisconsin Municipal Officials (2005) Wisconsin Department of Revenue [http://www.dor.state.wi.us/pubs/slf/pb062.pdf Accessed 04/09/2010] /sites/default/files/gwipp/upload/sources/Wis...


Data Collection Notes: 

Added class description to property types in value standard text box. This change has not been taken back to previous years.

Footnote: 

Revision Type: 

Revision By: 
AR
Revision Notes: 

new record 2008-AL
8/30/11 cc verified without checking