2018 Preliminary Equalized Values Posted

August 1, 2018

To: County Clerks, County Treasurers, Real Property Listers, Registers of Deeds, Primary Assessors, Statutory Assessors, Municipal Clerks, Municipal Treasurers, TID Subscriber List


Today, the Wisconsin Department of Revenue (DOR) posted its preliminary 2018 Equalized Values, Tax Incremental District (TID) Values, Net New Construction Report, and County Apportionment Report.

DOR posts the 2018 preliminary Equalized Values, providing each municipality an opportunity to review the values before we certify them on Wednesday, August 15.


Information Available for Review – August 7 review deadline

  • Net New Construction and TID Values
    • Municipal assessor provides the assessed values used by DOR to calculate net new construction and TID full values. Note: Full values may contain corrections to the prior year's values.
    • If you would like to review the assessed values reported to DOR, contact your municipal assessor
  • Equalized Values – reflects all value changes to your municipality

Additional Information


Guidelines for Warranted Changes

  • If DOR determines any changes to the preliminary values are warranted, we will make the changes before certifying the values
  • DOR will make changes to preliminary values following these thresholds:
    • Greater than 2 percent of the Equalized Value or TID Value – will adjust the 2018 value
    • 2 percent or less of the Equalized Value or TID Value – will make an adjustment to the 2019 value
    • We will not apply value changes resulting from an amended Municipal Assessment Report (MAR) or Tax Incremental District Report (TAR) filed after the second Monday in June. These changes will become an adjustment to the 2019 Equalized Value.
    • If necessary, DOR will contact the municipal assessor to discuss and confirm changes

Timeline

  • August 7 – deadline for municipalities to contact an Equalization Bureau District Office about the preliminary values
  • August 15 – DOR publishes the 2018 Final Equalized Values, TID Values, Net New Construction Report and County Apportionment Report, and notify stakeholders

Available Reports

Statement of Changes in Equalized Values
Includes:

  • 2018 total Equalized Values
  • 2017 total Equalized Values
  • Amount and percent change from 2017
  • Prior year corrections
  • Detailed adjustments to the Equalized Values

Tax Incremental District Values
Includes:

  • 2018 TID values
  • 2018 TID value increment
  • 2017 TID values
  • Amount and percent change from 2017
  • Locally assessed TID values
  • Manufacturing TID values
  • Prior year corrections

Tax Incremental Finance Value Limitation
Includes:

  • TID base year
  • 2018 TID current value and municipal total
  • 2018 TID value increment and municipal total
  • 2018 municipal Equalized Values
  • 5 percent, 7 percent or 12 percent test

Net New Construction – Summary
Includes:

  • 2017 Equalized Values
  • 2018 net new construction – amount of net new construction that occurred during calendar year 2017. Note: This may include prior year corrections.
  • Net new construction as a percent of the 2017 Equalized Value. Note: This percent is a factor in levy limit calculations.

County Apportionment
Includes:

  • 2018 Equalized Values reduced by 2018 TID Increment Values
  • 2018 apportionment as a percent of total county value (reduced by total TID increment)
  • 2018 TID value increments

Additional Information

For more information on the Equalization process and uses of Equalized Values, review the Wisconsin's Equalized Values publication on our website.

If you have questions, contact the Equalization Bureau District Office in your area.

Thank you,
Equalization Bureau
Wisconsin Department of Revenue