Milwaukee property assessments; homeowners surprised by increases
MILWAUKEE - There is sticker shock as Milwaukee homeowners get their new property assessments. On average, Milwaukee properties are up about 17%. But average home assessments are up even more.
"It was kind of shocking," said Barbara Gwiazdowski, a Milwaukee homeowner.
Barbara Gwiazdowski
Gwiazdowski and her husband, Raymond, have owned their home in Bay View for more than 40 years. She is surprised by the $30,000 increase in their home assessment.
"It’s bad news, but it could have been worse," Gwiazdowski said. "It’s a pretty big deal, with everything else being so expensive nowadays."
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A typical Milwaukee home in 2023 was assessed at about $140,000. Now, it is up to $167,000.
The highest increases came in Milwaukee's 1st aldermanic district – an area that is north of Capitol Drive and west of the Milwaukee River. The assessed values for homes and condos there are up nearly 27% on average.
Across the city, all properties (meaning homes, condos, commercial and other buildings) are up 17% on average.
"We have seen through the last couple years, the average sales price in our market increase pretty significantly. It’s not out of line with where prices have been increasing," said David "DJ" Friesch, realtor with the Jay Schmidt Group of Keller Williams Realty.
The rising market prices are reflected in the new assessments, which state law requires be based on the fair market price. In addition, this increase represents the first reevaluation in two years.
Friesch is also seeing his own Milwaukee home assessment go up about 10%. Some of his clients have already been calling, asking for help.
"A real estate professional could help them find comparable homes, if you believe your assessment is too high. So what I can do is I can provide them the data to present to the assessors' office to say, ‘I think my assessment is incorrect. Here’s the evidence that I have,’" Friesch said.
How will the new assessments impact how much you pay in taxes? That answer will not be known until fall – when the city, county, Milwaukee Metropolitan Sewerage District, Milwaukee Area Technical College, and Milwaukee Public Schools set their annual budgets and tax rates.
A higher assessment does not automatically mean higher taxes. One tax is surely going up and that is for MPS, since district voters approved the April referendum.
Check your assessment, raise issues
You can check your property assessment online by searching for your address on this site: Milwaukee Property Assessment Data web page.
In addition, in person visits can be made from 8 a.m. until 4:45 p.m. Monday through Friday on the fifth floor of Milwaukee City Hall.
You can also ask for help by calling the assessor's hotline at 414-286-6565 or clicking here: milwaukee.gov/askassessor.
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You can also check the change in assessed value by aldermanic district in Milwaukee.
If you are not satisfied with the assessment, you also have the ability to appeal. Those challenges are due by May 20. Contact the city assessor's office for more information.