2019 Property Tax Bill Updates

September 6, 2019

To: Municipal Clerks and Treasurers, County Clerks, Real Property Listers and Treasurers, Primary and Public Assessors

The Wisconsin Department of Revenue (DOR) would like to inform you of changes to the property tax bill backer for the 2019 tax year. The updated property tax bill backer is available on our Property Tax Bills web page. The updated backer must be used for 2019 property tax bills. The major changes include:

  • Additional explanation related to estimated fair market value
  • Contact information updates for property tax relief options

Estimated Fair Market Value

Under state law (sec. 74.09, Wis. Stats.), municipalities are required to show the estimated fair market value on property tax bills for all classifications except agricultural land, as defined in sec. 70.32 (2)(c)1g., Wis. Stats. Estimated fair market value is the property's assessed value divided by the municipality's average assessment ratio. If a parcel consists of multiple classifications, the total estimated fair market value is displayed, excluding agricultural land.

Since class 5 – undeveloped and 5m – agricultural are assessed at 50 percent of full value, calculate the total estimated fair market value by doubling the assessed value, then dividing it by the municipality's average assessment ratio.

If you have questions, contact us at lgs@wisconsin.gov.