On July 9, 2015, the Wind Point Village Board unanimously approved an agreement with Associated Appraisal to conduct a full revaluation of Village properties in 2016. The project is complete and property assessment information is available on Associated Appraisal’s website. Following are Frequently Asked Questions about the revaluation process:
What is a revaluation and why do we need to do it? The revaluation involves a complete interior and exterior review of all properties to ensure they are assessed at 100% market value in a uniform and equitable fashion. The Wisconsin Department of Revenue recommends that a full revaluation with interior inspections is completed at least every 10 years; the last time a full revaluation was completed in Wind Point was 1981.
Revaluations are completed for three main reasons: 1. To revalue all properties to be within 10% of market value as required by Wis. Stat. Sec. 70.05. 2. To ensure all properties are assessed consistently between classes and property types. 3. To ensure that all assessment data is collected. This data includes a digital sketch, a photo of the property and the various attributes such as age, size, bathroom count, basement finish, condition, quality of construction, etc. and appropriate data for attachments and out buildings. This data is collected through a field inspection, which is a physical inspection of the exterior and interior of each property.
Will my taxes go up as a result of the revaluation? A revaluation does not change the total amount of taxes that the Village levies. However, a property owner’s share of taxes may change as a result of the revaluation, depending on how their property assessment changes in relation to other properties in the Village.
When will field inspections take place? Inspections are taking place August and September 2016. Associated Appraisal is sending introduction letters to all property owners indicating they will be in their neighborhood to conduct inspections. If a property owner is not at home at the time of the initial inspection, appraisal staff will leave a door hanger with a phone number and instructions to call and set up an inspection appointment. Please note field staff will complete an exterior property inspection regardless of whether a property owner is home at the time of the initial visit.
What does the field inspection entail? Field inspections consist of physically viewing and verifying dimensions for all structures, digitally photographing exteriors and completing an interior walk-through to view quality of construction and to verify data. The interior inspection can take approximately 30 minutes for an average-sized home.
Why is the interior inspection important? The validity of the market value estimate depends on the collection of accurate data. A prospective buyer would not be expected to purchase a property without first making a careful inspection. Similarly, an individual ordering an appraisal expects that a thorough inspection will be made before a market value estimate of the property is rendered. Equitable revaluation depends on the cooperation of taxpayers. Property owners have a stake in the outcome of the revaluation program. The inspectors will make every effort to cause residents the least possible inconvenience.
What happens if a property owner refuses a physical inspection of their property? If a property owner refuses a physical inspection, the assessor is statutorily required to send a certified letter requesting an interior inspection stating the following: “70.47(7)(aa) No person shall be allowed to appear before the board of review, to testify to the board by telephone or to contest the amount of any assessment real or personal property if the person has refused a reasonable written request by certified mail of the assessor to view such property.” Basically, the property owner will lose their right to appeal the assessment without an interior inspection. The assessor will estimate based on the best available information per the Wisconsin Property Assessment Manual.
What is the process for property owners after the fieldwork is complete? After all data is compiled and new values are set according to methods prescribed in the Wisconsin Property Assessment Manual, property owners will receive notices of assessment in the mail. The notice will indicate the date(s) and time(s) for the Open Book, an informal and informative one-on-one meeting with assessors to discuss how the value was reached. All values established during the revaluation will be available for inspection and comparison. The assessor will review property attributes with the homeowner. Corrections can be made at Open Book if needed. If a property owner still does not agree with their property’s established value after attending the Open Book session, they will have an opportunity to attend the Board of Review to formally contest the value. The date and time of the Board of Review is also on the assessment notice. In 2016, Open Book and Board of Review are expected to take place late summer or early fall.
For more information… The Department of Revenue publishes a Guide for Property Owners, which you can download by clicking here. If you have questions, please contact the village administrator at 262-639-3524 or [email protected] or Associated Appraisal at 1-800-721-4157 or [email protected].