City Assessor Sam Walker presents Waukesha's 2025 reevaluation plan to council

Waukesha City Council received an important update on the 2025 citywide property revaluation during their recent meeting, highlighting significant changes in property values and compliance with state regulations. City Assessor Sam Walker presented the findings, emphasizing the necessity of the reevaluation due to ongoing increases in market values since the last assessment in 2023.

Walker explained that the city had experienced a 40% increase in property values during the previous revaluation, and with the current market trends, the city risked falling out of compliance with Wisconsin state requirements. The goal of the 2025 revaluation is to ensure that property assessments reflect current market values accurately, maintaining compliance within the required 90% to 110% range.

The revaluation process has resulted in a total market value increase of approximately $1.8 billion, bringing the overall assessed value to about $10.5 billion. Residential properties are expected to see an average increase of 14%, while commercial properties may rise by nearly 39%. This disparity indicates a heavier financial burden on commercial property owners.

Walker also noted improvements in the assessment process, including a more thorough review of residential properties that experienced significant value changes. The city has implemented a new four-page notice of assessment to provide taxpayers with comprehensive information, including details on how to appeal their assessments.

Notices of change assessments will be issued on April 25, with an open book period for residents to review their assessments running from April 28 to May 16. The initial board of review hearing is scheduled for June 6. Walker encouraged residents to reach out with any questions or concerns regarding their property values, emphasizing the city's commitment to transparency and fairness in the assessment process.

As Waukesha prepares for these changes, the city aims to ensure that all property owners are informed and engaged in the revaluation process, setting the stage for a more equitable property tax system moving forward.