The City of Waukesha's Board of Review convened on July 29, 2025, to discuss property assessments, focusing on a local Honda dealership. The meeting highlighted the dealership's valuation, which has seen a significant increase, raising questions about the assessment methods used.

The discussion began with an overview of the dealership's sales and cost approaches. The sales approach was reported at $4,200,000, while the cost approach came in slightly higher at $4,500,000. However, the board ultimately settled on a valuation of $5,300,000. This decision was influenced by the challenges in lowering land values, which are typically resistant to decrease.

The dealership in question spans 37,455 square feet, and the board noted that the improvement value assessed by the county was $3,816,800. The discussions emphasized the need for a conservative management approach to ensure that the valuation reflects the true market conditions.

As the meeting progressed, the board reviewed the implications of these assessments on local property taxes and the overall economic landscape of Waukesha. The board's decision on the dealership's valuation will likely impact future assessments and property tax calculations in the area.

In conclusion, the Board of Review's meeting underscored the complexities involved in property valuation, particularly in the context of commercial real estate. The board's findings will guide future assessments and provide a framework for addressing similar cases in Waukesha.