Mayor Tom Barrett
Press Release

Annual Property Assessments in Milwaukee Show Real Estate Values Are Up Throughout the City

Every category of residential and commercial property saw increases in 2018.

By - Apr 21st, 2018 06:32 pm

MILWAUKEE— Property values across the City of Milwaukee are climbing according to the annual revaluation compiled by the City Assessors Office. Every Milwaukee Aldermanic district saw total property value increase, and in 13 of the 15 aldermanic districts, residential property values were up by more than 3%.

“Assessments are a direct reflection of what the real estate markets say about our neighborhoods,” Mayor Tom Barrett said. “The message from the markets is very positive for neighborhoods all across the City.”

Approximately 150,000 assessment notices were mailed to Milwaukee property owners on Friday. 72% of those owners will see an increase in their assessment, about 20% will see no change, and, while there were value increases throughout Milwaukee, 7.5% of the individual properties declined in value.

Every category of residential and commercial property saw increases in 2018. Apartments saw the biggest jump, increasing in value by more than 10%.

The total assessed value of property in Milwaukee in 2018 is almost $27-billion, up $1.7 bilion over 2017. Those numbers do not include manufacturing value which is determined by the State.

Starting Monday, April 23rd, property assessments can be reviewed on the Assessor’s website at city.milwaukee.gov/assessor. Property owners who feel their revaluation is too high or too low can object to their assessments. Instructions for objecting are on the assessment notice, and objections must be receive by May 21st.

The goal of a revaluation is to create uniform, equitable and fair assessments. Property assessments are used to set the portion of the property tax levy each taxpayer will owe. So, while assessments are up, that does not produce additional revenue for the municipality.

Mentioned in This Press Release

People:

Recent Press Releases by Mayor Tom Barrett

Statement Regarding New Director of MSO

Mayor Tom Barrett released the following statement regarding the announcement of Ken-David Masur as new director of the Milwaukee Symphony Orchestra:

Mayor Tom Barrett Announces Willie Wade as President and CEO of Employ Milwaukee

"Willie Wade’s passionate leadership and commitment to connecting people to lifelong employment is unparalleled."

Community Organizations to receive over $8.1 Million from City of Milwaukee’s Community Development Block Grant

Funding to be allocated for housing and economic development amongst other services

Leave a Reply

You must be an Urban Milwaukee member to leave a comment. Membership, which includes a host of perks, including an ad-free website, tickets to marquee events like Summerfest, the Wisconsin State Fair and the Florentine Opera, a better photo browser and access to members-only, behind-the-scenes tours, starts at $9/month. Learn more.

Join now and cancel anytime.

If you are an existing member, sign-in to leave a comment.

Have questions? Need to report an error? Contact Us