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Assessment and Revaluation FAQs
Assessment FAQs
- Yes. Existing data that is on file relating to the interior and exterior was used to establish the current assessment.
There are differences between individual properties and between neighborhoods. In one area, the sales may indicate a substantial increase in value in a given year. In another neighborhood there may be no change in value, or even possibly a decrease in property values. Different types of properties within the same neighborhood may also show different value changes. For example, one-story houses may be more in demand than two-story houses, or vice-versa. Older homes in the same area may be rising in value more slowly than newer homes. There are numerous factors to be considered in each property that will cause the values to differ. Some of the factors that can affect value are: location, condition, size, quality, number of baths, basement finish, garages, and many others.
- General economic conditions such as interest rates, inflation rates, and changes in the tax laws will influence the value of real estate. As property values change in the market place, those changes must be reflected on the assessment roll. Considering current market conditions since the last revaluations, it is possible that the value of your property has stayed the same, increased, or decreased.
- You should first attempt to decide for yourself what your property is worth. This can be done by looking at area sales, contacting appraisers, and comparing assessments of similar homes.
Wisconsin Law requires that property assessments be based on fair market value. Estimating the market value of your property is a matter of determining the price a typical buyer would pay for it in its present condition.
The Assessor maintains a massive database containing detailed information regarding each structure and parcel. It tracks the number of rooms, square footages, and many other pieces of information commonly available from building permits and from a street-side view. The Assessor also maintains a record of all property sales in the City. By using a detailed statistical computer model, the Assessor can identify properties similar to yours that have sold and use that sales data to estimate the fair market value of your property.
- Market value is defined as the amount a typical, well-informed buyer would be willing to pay for a property. The seller and buyer must be unrelated, the seller must be willing, but not under pressure to sell, and the buyer must be willing, but not under any obligation to buy.
For property tax purposes, "real property" refers to land and buildings and the rights associated with ownership, while "personal property" is the furniture and equipment owned or used by businesses.
You should ask questions that will help you understand the assessment process and how your assessment was determined. An informal discussion with the Assessor can often resolve a problem prior to a formal hearing before the Board of Review. Ask the Assessor to show you the records for your property and to explain how your assessment was determined. Ask any questions that will help you understand the assessment process.
During the meeting that lasts 15-30 minutes, you will meet with assessment staff to review data about your property. This review will include things like the size, age, condition, number of bathrooms, and other physical characteristics of your property. This is also an opportunity to present factual data regarding different opinions about the value of your property.
The assessment staff you meet with will be gathering data during this meeting, not reviewing the value of your property. The review will be completed by assessment staff after the Open Book meetings have completed. Once to Open Book period is closed, you will be notified by mail of the results of the property review.
Once you receive the results, if you still believe the value is not an accurate estimate of your property value, you may proceed to the Board of Review. You can learn more about this by visiting the Board of Review page.
Generally speaking, improvements that increase the market value of a property will increase the assessed value. The following are typical items that will increase the assessed value of your property:
- Added rooms or garages
- Updating old windows and siding
- Modernization of kitchens or baths
- Central air conditioning
- Adding Fireplaces, Decks, Porches, Sheds, etc.
- Remodeling or updating, etc.
- In accordance with the Department of Revenue definition, "improvement" means all buildings, structures, and features as a whole that have been constructed and remain on the property. It does not relate to any recent improvements that have been made. By law, property assessments must include the value of the land, the improvements (buildings), and the total.
Good maintenance will help retain the market value of your property. Generally, your assessment will not be increased for individual minor repairs such as those that follow; however, a combination of several of these items could result in an increased assessment:
- Repairing concrete walks and driveways
- Replacing gutters and downspouts
- Replacing hot water heater
- Repairing or replacing roof
- Repairing porches and steps
- Repairing original siding
- Patching or repairing interior walls and ceilings
- Exterior painting
- Replacing electrical fixtures
- Replacing furnace
- Exterior awnings and shutters
- Weather stripping, screens, storm windows, doors
- Exterior landscaping including lawns, shrubbery, trees, flowers
Board of Review FAQs
- You are not required to meet with the Assessor before appealing to the Board of Review, although it is highly recommended. Minor errors and misunderstandings can often be corrected by meeting with the Assessor without initiating a formal appeal. In this current environment to promote safety, the Assessor's Office will conduct any meetings via teleconference, with any documents that we would typically share being forwarded to you for these meetings, or they may be held in person at City Hall. Any information that you would like us to consider, we ask that it be forwarded to the Assessor's Office via email, regular mail, or dropping it off at City Hall, in the drop box.
State law puts the burden of proof on the property owner to show that the assessment is incorrect. Keep in mind that your evidence must be strong enough to prove that the Assessor's value is incorrect. The Board will consider only relevant testimony given at the hearing.
- The City Clerk will give you a notice of the Board's decision at the conclusion of your hearing. If you do not agree with the Board's determination, the notice will contain information on how you may appeal the Board's decision.
- The Board of Review is a quasi-judicial (court-like) body whose members are City of Oak Creek residents. Its function is to decide the validity of the facts presented before it relative to the value of a property. You or your representative must provide testimony to the Board as to your objection to your assessment and prove that your property is inequitably assessed when compared to the general level of assessment within the taxation district.
Revaluation FAQs
- The exact amount of your property tax bill will not be known until December and will be based upon the tax levy established by the City, as well as the other taxing districts (MMSD, Oak Creek-Franklin Joint School Districts, MATC, and Milwaukee County).
- Revaluation redistributes the existing property tax burden so that all property owners pay their fair share based on the market value of their property. The total amount of taxes levied is completely independent of the overall assessment. Differences in the taxes paid by individual property owners will result from assessments that change more or less than the average. Please remember that the tax levy does not change as a result of the revaluation. Tax levies are established annually by the different taxing authorities (County, City, Oak Creek-Franklin Joint School District, MATC, and MMSD).
No, it is not. If the total levy remains the same, only those properties which are not presently paying their fair share will pay more taxes after a revaluation. Properties presently paying more than their fair share will pay less.
- A revaluation is a complete and thorough review of all assessments. During a revaluation, all assessments are examined and adjustments are made where necessary to guarantee that each property is assessed at market value. This is done to assure that taxes are distributed equitably and uniformly. The last revaluation for the City of Oak Creek was conducted in 2022. Oak Creek has conducted yearly revaluations from 2014 through 2022.
The City of Oak Creek’s Assessor's Office revalues all property annually to keep pace with changes in the market, as dictated by Wisconsin Statutes Chapter 70. The City of Oak Creek must maintain its assessed values within 10% of true full market value within a specified time period. During a revaluation year, all assessments are examined, and adjustments are made where necessary to guarantee that all properties are assessed at market value. This is done to ensure that taxes are distributed equitably and uniformly.