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Milwaukee, WI 53202
Gimbel, Reilly, Guerin & Brown, LLP

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Milwaukee, WI property tax assessment appeal attorneyBy Attorney Russell J. Karnes

Commercial property owners across Wisconsin have seen declines in revenue as a result of the COVID-19 pandemic. Wisconsin property tax assessors are required to take revenues and expenses into account when valuing commercial property using the income method of valuation. Property owners should expect to receive their notices of assessment in the mail beginning this spring. But whether these assessments will accurately reflect the decline in value for commercial property as a result of the pandemic is an open question. Owners of commercial properties such as office buildings and hotels should prepare now to object to their property tax assessments.

Commercial Property Assessments Must Be Based on Fair Market Value

Wisconsin law requires real property to be assessed at the fair market value using a three-tiered methodology for valuation. The first valuation tier, which provides the best evidence of a property’s value, will be based on a recent sale of the property in question at arm’s length. If the property had not been sold recently at arm’s length sale, then the second valuation tier may be used. This option provides the next best evidence of a property’s value, and it will examine comparable properties that had recently been sold. If neither the first-tier nor second-tier valuation methods are available, an assessor can use the third tier of approaches to determine a property’s value, and these methods include examining factors such as a property’s cost and the income it generates. 

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Milwaukee, WI property tax appeal lawyerBy Attorney Christopher L. Strohbehn

Owners of hotels and others in the hospitality industry have been some of the hardest hit by COVID-19. Relief has been few and far between for many.  On the one hand, they might be fighting business interruption claims because of the downturn in their business, and on the other hand, they are paying the same, if not more in property taxes at a time when their occupancy and customer traffic are at an all-time low.   

The business climate makes it imperative for hotel owners and commercial property owners to consider a property tax appeal recognizing that the market under COVID-19 has and will continue to be different this coming year.

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property tax appeal, property taxes, Wisconsin property taxes, Milwaukee appeals lawyer, tax appeals processBy: Chris Strohbehn

Every year business owners go through the ritual of opening up their notices from their municipality or an assessor to see how much the municipality is charging for property taxes that year. Of course, that ritual often ends with a groan and perhaps a feeling that for whatever reason this is not right. What can you do to make it right?

Call Your Assessor

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Wisconsin property tax assessment lawyers, property tax assessment, appeals process, property tax assessment, Wisconsin  tax liabilities, property tax appealOwnership of residential or commercial real estate provides many benefits, but it also brings tax liabilities. Wisconsin property owners must pay property taxes every year, and these taxes are based on the assessed value of the property. However, errors are sometimes made during property tax assessment, and property owners may appeal the assessment of their property in order to reduce their tax burden.

The Assessment Appeal Process

Municipal assessors conduct assessments of properties on an annual basis, and property owners are notified if the assessment of their property changed from the previous year. If a property owner believes the assessment of his or her property’s value is not correct, he or she should first contact the assessor to review records and determine the factors that influenced the assessment.

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