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Estimated Fair Market Value on Property Tax Bills

In addition to the assessed value, Wisconsin law requires that taxation districts show the estimated fair market value of taxable property on property tax bills. This estimated fair market value reflects the approximate market value of your property as of January 1 of the year shown at the top of the tax bill. The assessed value of each parcel (except those including agricultural land) is divided by the entire taxation district’s level of assessment (Average Assessment Ratio) to arrive at the Estimated Fair Market value.

This estimate is intended to give property owners a basis for comparison to determine if the assessment placed on their property is reasonable. Property owners must realize that the level of assessment is an average for the taxation district. There is naturally going to be some variance in the accuracy of the estimated fair market value from parcel to parcel. Minor differences between the estimated fair market value and the property owner’s opinion of value shouldn’t raise concern. If you believe a large difference exists between the estimated fair market value and your opinion of value of your property, please contact us at the Assessor’s Office to discuss your assessment.