Starting in late 2022 and extending into 2023 all real and personal property in the city of Waupaca will be revalued. This revaluation will provide the City with a comprehensive and modern assessment system which will enable us to insure equitable treatment of all properties. All property owners and tenants are urged to cooperate with Bowmar Appraisal staff who will be conducting the revaluation on behalf of the city.
This revaluation will correct inequities which may have developed over the years. Since taxes are apportioned according to the value of the property owned, any inequity in assessed value results in an unfair distribution of the tax burden. Properties that have been assessed too high pay more than their fair share and properties assessed too low are paying less than their fair share.
Field appraisers from Bowmar Appraisal will stop at your property without an appointment. You will see Bowmar Appraisal staff walking door to door, walking around a house, and taking pictures. They will be in marked vehicles and have identification with them available to see upon request. If they find no one is home they will leave a note asking you to call for a specific appointment.
When this process is complete, if there is a change to your assessment you will be notified. If you disagree with your new assessment there is an appeals process that consists of an open book period and Board of Review.
If you want to verify the person at your property, call City Hall 715-258-4411
All other questions about the Revaluation Process should go to Bowmar Appraisal 920-733-5369
What does “revaluation” really mean?
It means that the City of Waupaca will make a present-day, full market assessment of your property. In other words, if your property would sell for $100,000 at the present time, this amount would approximate your new assessment.
Why is a revaluation taking place?
A revaluation is taking place to correct inequities that may have developed over the years in the assessed valuation placed on properties in the City. Since taxes are apportioned according to the value of the property owned, any inequity in assessed value results in an unfair distribution of the tax burden. Tax-payers whose property is assessed too high pay more than their fair share of the tax burden and those whose property is assessed too low pay less than their fair share of the tax burden. Under state law, a municipality must be within 10% of full market value at least once in a five year period and the City has been outside that margin for 4 years.
If the new assessments are made at full value, won’t this raise my taxes?
An increase in your assessment does not necessarily mean an increase in your property taxes. Additionally, a decrease in your assessment does not necessarily mean a decrease in your property taxes.
Though the assessed value of your property affects your share of taxes, the actual amount you pay is determined by the budget needs, or levy of the schools, city, county, and technical college. All of these taxing bodies decide their budget needs based on services to be provided to the community. If the total levy remains the same, only those properties that are not presently paying their fair share of the tax burden will pay more taxes after a revaluation. Properties presently paying more than their fair share will pay less.
To illustrate how the levy affects your assessment we’ll look at Badgertown; a community of two. Each resident owns a house valued at $100,000. Badgertown’s tax levy is $2,000; the amount needed to cover its expenses. Since each resident owns 50% of the total property, they each pay 50% of the levy giving them each a tax bill of $1,000.
If property values in Badgertown go up 10%, then each property is assessed at $110,000. The amount they pay in taxes, however, remains the same. Each resident still owns 50% of the total property in Badgertown and must pay 50% of the $2,000 tax levy or $1,000. And what if values start dropping? Residents’ property might drop to $80,000 each but because they each still own 50% of the property, and Badgertown still needs to collect $2,000, they will continue to see a $1,000 property tax bill.
How will the revaluation be carried out?
Field appraisers from Bowmar Appraisal Inc. of Appleton, Wisconsin will stop at your property without an appointment. You will see Bowmar Appraisal staff walking door to door, walking around a house, and taking pictures. They will be in marked vehicles and have identification with them available to see upon request. If they find no one is home they may leave a note asking you to call for a specific appointment.
Will the person who comes to my door be able to tell me what my assessment will be?
No, the field representative gathers data only. The actual assessment will be calculated at a later date.
Will I be notified if there is a change in my assessment?
Absolutely. Wisconsin law requires that whenever an assessment is changed, the owner must be notified. This would happen via mail as soon as the figures are available.
If I am notified of a change in my assessment and I disagree, what is the proper process for appealing my assessment?
Step 1: The Open Book
This is an informal session where property owners may come to view the new assessment roll. Property owners may also meet with the assessor to discuss the assessment of their property. Property owners may also present any evidence pertaining to value to the assessor for consideration.
Step 2: The Board of Review
In making the decision to appeal, the property owner should be aware that (1) the assessor’s value is presumed correct unless proved otherwise and (2) the evidence presented must establish the fair market value of the property. The best way to establish value is through a recent sale of a comparable property, or a recent real estate appraisal of the property.
What if I am still not satisfied after going Open Book and The Board of Review?
A property owner has the option to appeal the decision to the Circuit Court.
When will the new assessment go into effect?
The new assessments are effective January 1, 2023. It will go into effect on the 2023 tax bill, payable in 2024.
What if I wish to obtain additional information regarding the revaluation?
Every effort will be made during this revaluation to fully acquaint you with its workings. We feel that its success will depend greatly on your complete understanding of why it is being done. Should you desire further information or would like any of the foregoing questions explained in more detail, we will ensure that your questions are answered by either City staff or staff from Bowmar Appraisal Inc.