Increase in state’s property value smallest since 1987

The equalized value of real and personal property in Wisconsin rose 3.3 percent this year, compared with a 6.2-percent increase last year and a 9.6-percent increase the year before, according to a report from the Wisconsin Taxpayers Alliance.

Commercial property value rose 4.2 percent, manufacturing property rose 4.3 percent, agricultural property rose 3.3 percent and residential property rose 2.8 percent. The value of existing residences in the state rose less than 0.5 percent.

The rise in agricultural property and the 8.1 percent increase in the value of agricultural forest land, is a reverse from recent years of decline, reflecting a "somewhat stronger farm economy," according to the report.

Growth was highest in rural and recreation areas of central Wisconsin and lowest in urban and suburban areas in the northwest and southeastern parts of the state, according to the report.

Seven counties in the northwest part of the state, which had experienced significant growth fueled by sprawl from the Twin Cities, are now experiencing stagnated property value growth.

The highest increase in equalized value was in heavily agricultural Lafayette County, which had an increase of 14.3 percent.

Only one county, Barron County, had a decline in property value.

In southeastern Wisconsin, property value increases were:

  • Milwaukee County, 1.6 percent
  • Waukesha County, 2.1 percent
  • Walworth County, 5.9 percent
  • Washington County, 3.0 percent
  • Kenosha County, 2.5 percent
  • Racine County, 2.1 percent
  • Ozaukee County, 0.7 percent

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