2022 Property Revaluation
Assessors have spent the last 4 months updating property data by physically inspecting the exterior of all properties in the City of Watertown. The last time inspections took place was over 10 years ago.
The City will now be going through a market revaluation. All assessed property values will be reviewed and revalued this year, in 2022. The last city-wide revaluation took place in 2012. Since then, market values have changed and assessed values no longer reflect current market conditions.
The state of Wisconsin requires assessed values to be within 10% of market value. Currently, Watertown values are well below 10% of market value and are no longer in compliance therefore a revaluation of all property is required. Updating assessments will bring all assessed values closer to their fair and equitable market value.
Assessors will be reviewing market sales through January 1, 2022. Sales after the new year will not be used to determine your new 2022 value. The property tax bill you will receive in December of 2022 will be based on the new assessment value of your property.
Assessors don’t set tax rates. An increase in assessed values does not allow the city, county, school district or technical college to collect additional taxes.
You will have the opportunity to talk with an assessor about your new value once notices are mailed later this year.
To learn more about what assessors do, please watch this video:
Assessment review is a conference, either face-to-face or over the phone, with an assessor to discuss the value of your property. You have until 48 hours before Board of Review to contact the assessor about your new value. You can set an appointment to talk with an assessor at your convenience.
Board of Review
Board of Review functions like court and is required to evaluate evidence based on facts. You or your representative must provide factual evidence that your property is inequitably assessed. The burden of proof is solely on the taxpayer. The assessor’s value is presumed correct by State Law until proven otherwise.
If you have questions about the inspections or about the 2022 revaluation, please contact the assessor’s office: email@example.com or call 920-749-8098