Milwaukee property assessments; city sees more increases

MILWAUKEE - Milwaukee property assessments arrive in your mailbox this week and values citywide are on the rise again.

While you might see an increase on your assessment, that does not necessarily mean you will on your taxes. If you notice an increase on your Milwaukee property assessment, you are not alone.

What we know:

The Milwaukee Assessor's Office said all city properties are up roughly 15%. That average includes commercial buildings and condos.

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Data from the city's assessor's office shows that this year, the average cost of a home or condo in the city is just over $210,000. That's up from $184,000 last year.

Milwaukee's 15th ward, located in the middle of the city, is where overall property values hiked the most. Districtwide, assessments increased 24%.

What they're saying:

"Assessments are basically what the city believes the value of your property to be," Commissioner of Assessments Nicole Larsen said. "State law dictates that the assessor put values, put assessments on properties at full value, so that is really a reflection of the market value. Property owners will see a dollar value increase in their assessed value, and that doesn’t tell the whole story. What they really have to do is look at the percentage increase over 2024’s value – and then compare that to the citywide increase."

Larsen is referring to the citywide average value of all Milwaukee properties.

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"If their value’s increase is lower than that city-wide average, they might actually see a decrease in their tax bills in December," she said.

The city, county, Milwaukee Metropolitan Sewerage District, Milwaukee Area Technical College and Milwaukee Public Schools set tax rates in the fall and Larsen said the assessment is just one piece of the puzzle.

What you can do:

If you do notice something you believe is wrong with your assessment, you can report it to the city's assessor's office. The final day to do that is May 19.