Ratio of Assessed Values to Market Value
Market Trend Graph
2023 Preliminary Real Estate Assessment Roll
2023 Preliminary Personal Property Assessment Roll
Open Book Objection Form– Online form
Open Book Objection Form– Printable Form
Board of Review
2023 Revaluation Statistics
DOR- 2023 Guide for Property Owners
Trespass Law – 943.13 and 943.15
State Statutes require each municipality to assess property within +/- 10% of full market value. The City’s assessment ratio (assessed value/sale price) in 2022 was 86.80% and would have dipped to below 80% without a revaluation. The purpose of the revaluation is to recalculate assessments so they are in line with market values and ensure equity and uniformity of all property assessments in the City.
The real estate market has changed over time. The last city-wide revaluation occurred in 2019. If your property did not have a change of value due to a remodel, demolition, or other type of change that would impact your property’s assessment since 2019, your property’s assessment most likely has not changed in the last 4 years. The change of assessment due to this city-wide revaluation is looking to close the gap from the value of your property back in 2019 to the current value of your property in today’s real estate market.
The 2023 revaluation is an interim market update. This means the assessor analyzes recent sales and uses the existing property records to calculate property assessments.
The purpose of a revaluation is to equitably distribute the tax burden among the taxable properties in the city to better reflect actual market values, not to increase taxes. The revaluation does not change the total amount of tax dollars collected by the city.
There are two key parts of the equation to calculating your property tax bill. The first is the assessment, the second is the tax rate (or mil rate). The assessor is only responsible for establishing your assessment. The tax rate will be established in November during the annual budgetary meetings. As the tax rate will not be set until Fall, the assessor is unable to project what your tax bill will be at this time.
As a general rule, when the total tax levy remains the same, only those properties that are not presently paying their fair share of the tax burden will pay more taxes after a revaluation. Properties presently paying more than their fair share will pay less. If the assessed values established by a revaluation are greater than they were before and the tax levy is the same, then the tax rate will be less.
To receive an estimate of taxes for 2023, click on the Tax Estimator above or follow this link.
Each property owner will be mailed a notice of their property’s assessment called the Notice of Assessment. The notice will list your property’s previous value and your new property value. These notices were mailed to property owners on August 7, 2023.
Contact the assessor’s office if you have any questions or disagree with the assessment of your property. Often times, a conversation with the assessor will resolve the matter. The assessor will also hold an Open Book meeting to give property owners a chance to meet with the assessor or view the assessment roll. To book an appointment online, click this link
Open Book Objection forms should be submitted to the assessor’s office before meeting with assessment staff. At the Open Book meeting, you must state your estimate of your property’s Fair Market Value as of January 1, 2023 and provide evidence. Such evidence may include:
If you still wish to appeal your assessment after having a conversation with the Assessment Staff, the next step is to attend the Board of Review hearing. The Board of Review operates like a court. Its function is not to determine the value of the property but to decide the validity of facts presented orally before them. There is a formal application process and specific deadlines for appealing to the Board of Review, which is done through the City Clerk’s Office. You will need to file written or oral intent to object with the City Clerk at least 48 hours before the start of Board of Review. In addition, you must complete the Objection to Real Property Assessment and file it with the City Clerk prior to or within the first two hours of the Board of Review’s first scheduled hearing. The Clerk’s office can be reached at 920-886-6100 or visit their website at: Board of Review