What is a Property Tax Assessment, and How Can a Lawyer Help Me?

In Wisconsin, owners of real estate are required to pay property taxes on an annual basis, and the revenue generated from these taxes is used to fund local government and public schools. Property taxes are based on the value of real estate. However, due to changes in the market, these values can fluctuate from year to year. Property owners should be sure to understand how the process of property tax assessment can affect the taxes they pay.

Understanding Property Tax Assessment

Every year, local officials known as tax assessors determine the taxable value of all property in their district. This assessment consists of three factors:

1. Discovery of all real and personal property that is subject to taxes.
2. Listing the characteristics that affect the value of property.
3. Determining the value of the property that is subject to property taxes.

The value of property, as determined by an assessor, is the amount that the property would be sold for on the open market. An assessor will determine this value based on a recent sale of the property or recent sales of comparable properties. In some cases, an interior inspection of the property may be required to obtain an accurate valuation, and assessors will take applicable factors into account, such as new construction or improvements to the property.

How an Attorney Can Help With Property Tax Assessment

The factors involved in assessing property are complex, and a skilled attorney can help ensure that property is valued correctly by:

• Reviewing tax records to ensure that property is classified correctly, information about the size and age of property is accurate, and the purchase price is correctly stated;
• Helping property owners understand the tax breaks and benefits for which they may be eligible;
• Understanding the methods assessors use to determine property value and ensuring appraisals are done correctly;
• Reviewing assessments to determine whether any errors were made in determining the value of the property and contacting assessors to request a change in property valuation; and
• Appealing an assessment with the Board of Assessors and/or Board of Review.

Contact a Wisconsin Property Tax Assessment Attorney

The assessed value of a property will determine the property taxes the owner must pay. Therefore, it is incredibly important to make sure that assessors follow the correct procedures to determine a property’s correct value.

If you have any questions about the assessment process, or if you believe your property has been assessed incorrectly, the skilled attorneys of Gimbel, Reilly, Guerin & Brown, LLP can work with you to minimize your property tax burden. Contact a Milwaukee tax assessment lawyer today at 414-271-1440.

Sources:

https://www.revenue.wi.gov/DOR%20Publications/pb060.pdf

https://www.wisbar.org/NewsPublications/WisconsinLawyer/Pages/Article.aspx?Volume=84&Issue=7&ArticleID=2258