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Wisconsin Property Tax

Wisconsin Property Tax is among the most common taxes in the state of Wisconsin . The property tax in Wisconsin consists entirely of real property tax or residential property tax. Such property taxes are the major sources of revenue for local governments and most of their financial requirement is met through this type of taxes. Moreover, it is the revenue generated through WI Property Tax that is used to fund school districts, special purpose districts, vocational technical colleges and tax incremental finance districts.

Wisconsin Property Tax Records

Each taxation jurisdiction has assessors that determine the assessed value of each and every taxable property except for the manufacturing property, which is assessed by the Wisconsin Department of Revenue every year. As per the law of the state, the property assessment is to be based upon the market value of property. The assessed values of all property are recorded in the assessment roll. Such data comprise the framework of Wisconsin Property Tax Records, which is made available for public viewing.

As Wisconsin Property Assessment is performed at local level using different percentages of market value, there is bound to be differences in assessed values for different taxing jurisdictions. Hence, the Department of Revenue takes steps to bring uniformity in assessed values by all taxing jurisdictions. This is ensured by converting assessed values into uniform values, which are called equalized values.

Wisconsin Property Tax Rates

The equalized values are used primarily to distribute the state levy among various local governments, such as counties and municipalities. Moreover, Wisconsin Property Tax Rate is also found to be different for each individual taxing district. To know more about WI Property Tax Rate for each county and several other aspects of Wisconsin Real Estate Taxes, you can visit the site of Wisconsin Department of Revenue.


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