Wisconsin Department of Revenue
Press Release

Equalized Values Report Shows Strong Increase

Wisconsin's Real Estate Market Grew by 7%

By - Aug 13th, 2021 01:34 pm

MADISON — 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, 2021, was $654 billion, a 7% increase over the prior year; growth occurred in all property classifications. Equalized values are based on data from January 1, 2020 to January 1, 2021.

Report highlights:

  • Change in Equalized Value = $41.6 billion, a 7% increase from 2020
  • $31.1 billion due to market value increases (5%)
  • $10.1 billion due to new construction (2%)
  • Menominee and Rock Counties saw the largest increase at 11%
2021 Equalized Value Changes by Property Class
Classification Total 2021 Equalized Value Total Value Change Percent Change
Residential $468,407,477,756 $34,092,149,556 8%
Commercial $130,489,130,774 $6,431,046,774 5%
Manufacturing $17,050,441,100 $357,808,200 2%
Agricultural* $2,389,465,700 $87,453,400 4%
Undeveloped $2,124,878,300 $45,657,000 2%
Ag Forest $3,391,308,100 $101,099,300 3%
Forest $7,731,427,600 $145,909,600 2%
Other $13,087,671,226 $372,013,426 3%
Total Real Estate $644,671,800,556 $41,633,137,256 7%
Total Personal Property $10,148,575,300 $50,331,100 0%
Total Equalized Value $654,820,375,856 $41,683,468,356 7%

* 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:

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

Mentioned in This Press Release

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Statement by Secretary Barca on Release of 2021 Equalized Values Report

Largest Amount of New Construction Value on Record

Equalized Values Report Shows Strong Increase

Wisconsin's Real Estate Market Grew by 7%

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