Dept. of Revenue: Equalized values report shows healthy increase in property values

The Wisconsin Department of Revenue (DOR) released its annual Equalized Values Report. The report shows Wisconsin’s total statewide equalized property value as of January 1, 2020, was $613 billion, a 6 percent increase over the prior year; growth occurred in all property classifications. Equalized values are based on
data from January 1, 2019 to January 1, 2020.

Report highlights:

  • Change in Equalized Value = $32.2 Billion, a 6 percent increase from 2019

o   $22.9 Billion due to market value increases (4 percent)

o   $9.6 Billion due to new construction (2 percent)

  • Racine and St. Croix Counties saw the largest increase at 9 percent
2020 Equalized Value Changes by Property Class 
ClassificationTotal 2020 Equalized ValueTotal Value ChangePercent Change
Ag Forest$3,290,208,800$96,413,0003%
Total Real Estate$603,038,663,300$31,955,200,8006%
Total Personal Property$10,098,244,200$308,983,4003%
Total Equalized Value$613,136,907,500$32,264,184,2006%

*Agricultural land value changes do not represent changes in market value; agricultural land values are based on the income that could be generated from its rental for agricultural use

Equalized Values are calculated annually and used to ensure statewide fairness and equity in property tax distribution. The Equalized Value represents an estimate of a taxation district’s total taxable value and provides for the fair apportionment of school district and county levies to each municipality. Changes in Equalized Value do not necessarily translate into a change in property taxes. 

More information: 

·         Interactive data and statistics on equalized property values for certain years, locations and classifications

·         Equalized Value reports

For background information on Equalized Values, review Wisconsin’s Equalized Values, and for additional information on property taxes, see Guide for Property Owners.