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2017 Property Values and Taxes in Southeast Wisconsin

Our property tax and values report is an annual publication that measures trends in property values and examines how they impact the capacity of local governments and school districts to raise revenues. We find that the region's gross property tax collections increased by 1% in 2017, while the aggregate tax rate declined for the third consecutive year. Meanwhile, property values in the region increased by 3.5%, the highest rate of growth since 2007.

Other key findings:

  • For the third consecutive year, every county in the region experienced an increase in property values. Unlike last year, however, the region's aggregate growth in property values lagged that of the State of Wisconsin as a whole.
  • Residential values – which comprise the greatest share of overall property values in the region – grew at their highest level since 2007, increasing 4.0% from 2016.
  • The region's aggregate property tax rate declined by 2.2% and now is about equivalent to what it was in 2012. That means an average property taxpayer in the region whose property value has not changed would be paying about the same amount in property taxes as he or she paid five years ago.
  • Property taxes levied by school districts remain the largest component of the region's annual property tax levy (comprising 44.5% of total), but school district levies fell by $20.6 million (1.1%) in 2017. Property taxes accruing to TIF districts saw a notable increase of 8.3%, although TIF districts still account for only 4.1% of total property taxes in the region.

 

This research is sponsored by Baird, Commercial Association of REALTORS® Wisconsin, and the Greater Milwaukee Association of REALTORS.

 

Media Coverage

"Report: Property tax levy caps helping taxpayers in southeastern Wisconsin"
Milwaukee Journal Sentinel