How much did assessments increase in Milwaukee in 2024?

All of the city's 15 aldermanic districts saw assessments rise, though there was quite a range in terms of how much they increased, according to the Assessor's Office.

At the high end, the assessed value of residential property increased 26.85% in District 1 on the city's north side, while District 4 that encompasses much of downtown and the near west side saw the smallest increase at 14.02%.

The range depends on the neighborhood and should generally be aligned with other comparable homes in the area.

Is it possible for an assessment to increase without any upgrades being made to the home? If so, how?

Yes. Assessments are based on a comparison of homes to similar ones that have sold over the past year. Thus, property owners can see values go up even if they have not made improvements — and even if they don't intend to.

What is a 'maintenance year' for property assessments and what does that mean for 2024?

Last year was a "maintenance year," when assessments from 2022 were used and values were updated "when changes warrant," according to the Assessor's Office website. Changes could include new construction, changes in parcel size, remodeling, demolition and more. They do not necessarily result in a change in value.

In a "revaluation" year like 2024, assessed values for most properties will change.

"In a revaluation, the assessor looks at the prior years' sales to update assessments citywide, in addition to the property changes and corrections reviewed for a maintenance assessment," the website states.

How can you appeal your assessment?

Property owners in Milwaukee have until 4:45 p.m. on May 20 to file an appeal of their assessments.

The first step to filing an appeal is to contact the Assessor's Office.

The Assessor's Office can be reached:

• Online at https://city.milwaukee.gov/assessor
• By email at assessor@milwaukee.gov
• Phone from 8 a.m. to 4:45 p.m. Monday through Friday. Questions about appeals and assistance can be directed to 414-286-6565. The Assessor's Office general phone number is 414-286-3651.

The second step is to request an appeal form and return it by 4:45 p.m. on May 20.

The office recommends that evidence be submitted with appeals. For residential property owners, that could be a copy of a recent appraisal, recent market analysis from a local real estate agent, photos of the inside or outside of the home showing areas that need maintenance, and photos showing features that weren't part of the home as of Jan. 1 of the current year but that are listed on the Assessor's Office's property record card.

Read Full Article Here (Milwaukee Journal Sentinel)