MILWAUKEE — New City of Milwaukee property assessments started hitting residents’ mailboxes last Friday, and average values are once again on the rise. This year, the average increase is 15 percent, with an average property assessment city-wide of $312,488.
But that doesn’t necessarily mean residents will see an equal rate of property tax increase.
It’s true that 2025 does mark a revaluation year, necessitating the issuance of assessment notices to all taxable properties in the city. As such, many property owners are anticipated to observe an increase in their property values. But as has been the case the past few years, the city Assessor’s Office wants to remind the public that an increase in property evaluation doesn’t necessarily mean an increase in property taxes.
“Our goal is not to increase taxes, our goal is not to increase assessments. Our goal is accuracy, because we want to make sure there’s fair and accurate taxation for property owners,” City Assessor Nicole Larsen tells WTMJ’s Wisconsin’s Morning News Tuesday.
PREVIOUS COVERAGE: Understanding property assessment as values rise in Milwaukee
According to data from the assessor’s office, the total assessed money value of Milwaukee’s over 151,000 parcelled properties is $47,190,712,755, an increase of $6,307,762,406, or 15.43%, from 2024. When broken down by property type, the average residential property assessment was $210,511, up from $184,035 in 2024. Commercial properties meanwhile were up a bit more, from an average of $1,126,832 in 2024 to $1,319,634 this year, or 17.11 percent.
Larsen notes that ratio could mean less of the tax levy increase burden could be shouldered by city residents. As for altering that levy, Larsen adds it’s possible, but not easy to do. “It’s very limited due to the levy limits that the Legislature adopted a number of years ago. So while the levy can go up some, it’s not a lot.”
During what’s known as the “open book period”, property owners wishing to appeal their most recent evaluations can reach out via phone, email, or in-person visits during the city assessor’s office’s regular business hours to discuss their assessed value with an appraiser. The deadline to file an appeal is May 19th at 4:45pm.
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