How does the Assessor value property?

Wisconsin Law requires that property assessments be based on fair market value. Estimating the market value of your property is a matter of determining the price a typical buyer would pay for the property in its present condition.
Some factors the assessor considers are: what similar properties are selling for, what it would cost to replace your property, what rent it may earn, as well as any other factors that affect its value. IT IS IMPORTANT TO REMEMBER THAT THE ASSESSOR DOES NOT CREATE THIS VALUE, BUT RATHER INTERPRETS WHAT IS HAPPENING IN THE REAL ESTATE MARKET.
Updated 2/7/2016 11:31 AM