No. Use value assessment is a method of assessing agricultural land for state law (ch. 70, Wis. Stats.), and is not used for value on the transfer return per definitions under sec. 77.21, Wis. Stats. Value for transfer fee purposes is defined in sec. 77.21(3)(a), Wis. Stats.:
In the case of any conveyance not a gift, the amount of the full actual consideration paid therefore or to be paid, including the amount of any lien or liens thereon; and
In case of a gift, or any deed of nominal consideration or any exchange of properties, the estimated price the property would bring in an open market and under the then prevailing market conditions in a sale between a willing seller and a willing buyer, both conversant with the property and at prevailing general price levels.
Prior to 1969, the United States government had a revenue stamp with a rate of $0.55 on each $500.00 (or fractional part thereof), of the sale price or value of the property conveyed. Values of less than $100.00 were exempt from the stamp.
No. According to state law (sec. 59.43(2) (b), Wis. Stats.), DOR is exempt from the fee.
Yes. This transaction is exempt from fee. Under state law (sec. 706.05, Wis. Stats.), these type of documents (mortgage, agreement)can be recorded. In Wisconsin, a mortgage is considered valid whether it is recorded or not. However, it is in the best interest of the lender to record the mortgage or agreement to protect their lien interest in the real estate.
Wisconsin Department of Revenue Local Government Services Bureau – MS 6-97 PO Box 8971 Madison, WI 53708-8971Phone: (608) 264-6885 or (608) 266-1594Fax: (608) 264-6887Email: firstname.lastname@example.org