In a recent Board of Review meeting held in Waukesha, Wisconsin, a homeowner presented a case regarding the assessed value of his condo, highlighting significant concerns about rising property taxes and valuation discrepancies. The homeowner argued that the current assessment of $155,400 was inflated compared to recent sales of similar units in his condo association, where the average sale price was reported at approximately $143,936.

The homeowner detailed his findings, noting that while the average sale price for 2024 was $145,000, the average for 2025 had dropped to around $130,000. He emphasized that his unit, which has not undergone any significant upgrades in over a decade, should be valued lower than the current assessment. He cited a recent sale of a neighboring unit for $135,000 as evidence that his own unit's value should be closer to $148,000, which he deemed a fair appraisal.

During the meeting, the city assessor acknowledged the homeowner's concerns and explained that the initial assessment of $165,200 was revised to $155,400 after reviewing comparable sales data. The assessor confirmed that the valuation process relied heavily on sales from 2024, as they could not consider market activity from 2025 due to legal constraints. The assessor noted that the price per square foot for the homeowner's unit was in line with the average for similar properties.

The discussion highlighted broader issues of property valuation and taxation in Waukesha, particularly the impact of rising assessments on homeowners. The homeowner expressed frustration over a 40% tax increase in 2024 followed by another 37% increase in 2025, raising concerns about affordability in the housing market.

As the Board of Review concluded the meeting, they noted the evidence presented by both the homeowner and the city assessor, indicating that future assessments would take into account the declining trend in property values if it continued. The outcome of this case will likely influence how similar assessments are handled in the future, reflecting ongoing challenges in balancing fair property taxation with market realities.