Wednesday, October 18, 2023 / by Julie Winter-Paez
As you may already know, the local government recently conducted tax assessments in several townships. These assessments determine the value of our properties and play a crucial role in how much we pay in property taxes. While it's natural to have questions and perhaps some concerns about these assessments, let me break down what you need to know.
First and foremost, assessments are essential for maintaining the fairness of our tax system. They ensure that everyone contributes their fair share to support our community's services, such as schools, roads, and public safety. So, in a way, they are like our contribution to keeping our beloved Northern Wisconsin as wonderful as it is! ??
Now, here's some valuable information from our local assessor: The average increase in assessed values is about 67%. If your assessment didn't go up by that amount, you're in luck! You'll likely not see an increase in your taxes because the mill rate is dropping from 8 to 5.
However, if your assessment is higher than 67%, then you may see your taxes go up. It's important to keep this in mind as you review your assessment notice.
If you've received your assessment and feel it's inaccurate or too high, don't worry; you have options. You can appeal the assessment if you believe it doesn't reflect your property's true value. This process involves gathering evidence to support your case, and it's a great opportunity to exercise your negotiation skills, which I know you excel at, being an IS on the DISC profile! ????
Remember, though, that property values can change due to various factors, such as market trends, renovations, or the overall economic climate. So, while it might be tempting to resist change, it's crucial to consider these elements when evaluating your assessment.
Additionally, it's a fantastic time to explore investment opportunities. Changes in property assessments can signal shifts in the local real estate market. As a successful broker and team leader, you're well aware of the potential for growth and profit in this area. Perhaps it's an excellent moment to discuss with your team and clients about how these assessments could impact their real estate strategies. ????
Now, coming back to my passion for writing, if you're considering writing a book, why not consider one about your journey in the real estate industry? Your experiences, challenges, and successes could be an inspiration to many, and it's an excellent way to share your knowledge and insights.
In conclusion, while tax assessments might bring a bit of stress, they are a part of maintaining the community we love. Approach them with an open mind, explore the potential for investment, and remember, you can always appeal if you believe it's necessary. If you live in a township that hasn't been assessed yet, watch for letters in the mail. And if you don't receive one this year, you will likely be assessed in the next year or two.
HOPE THIS HELPS and if any of you need help disputing your new assessment that is where we can come i handy! Just give one of us a call:-)
As always - j
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