If property owners would like to discuss their assessment please contact Tyler Technologies at 262-395-4441 to schedule an appointment with assessment staff June 9, 2022 - June 28, 2022 8:30 am to 4:00 pm.
We have received many calls about the 2022 revaluation notices that were mailed out. As a reminder an increase in assessment does not necessarily mean an increase in taxes. It depends how your assessment changed in relation to the average increase, which was about 25%. It also depends on how much taxes will be levied by all the taxing jurisdictions, which is not known until November (the Village's average tax levy increase over the last 10 years was 1.69%).
Letters from the Assessor regarding your 2022 property assessment were mailed out the week of June 6th. Each property should have received a letter from the Assessor with their new assessment. This year, the Assessor completed a Village-wide revaluation of properties in Greendale. A revaluation is a review of all assessments using current market sales and trends in order to arrive at an estimated fair market value of each property as of January 1st of the year of the revaluation. The last revaluation for the Village of Greendale was conducted in 2018.
A common misconception about revaluations is that an increase in one's property assessment leads directly to an increase in property taxes. This is not necessarily true in a revalution year unless one's assessment has increased higher in relation to other properties in the taxing jurisdiction. For example, if the average assessment in the Village increases 25%, the owner of a home with an assessment increase of 25% would not see an increase in their share of taxes. A revalution does not change the total amount of taxes that the Village levies (which is capped by State levy limits). 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. 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 (State, County, Village, Local School Districts, MATC, and MMSD). 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 Village, as well as the other taxing districts (State, County, Village, Local School Districts, MATC, and MMSD). The Village's average tax levy increase over the last 10 years was 1.69%.
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 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 Village. 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.