• Removal of Prior Year Compensation – removes value applied to the prior year's Equalized Value to compensate for over or under-valuation in the second prior year


• Amount of Economic Change
  • Includes changes due to market conditions, based on analysis of the prior year's sales
  • Note: According to the use-value assessment law, the reported value of agricultural land included in the Equalized Value reflects the land's use-value, not the current market value. Undeveloped and Agricultural Forest classes are valued at 50 percent of market value.


• Amount of New Construction
  • Land value changes are due to higher land utility
  • Improvement value changes are due to construction of new buildings


• 70.57 Correction and Compensation
  Includes:
  • Current Year Correction – corrects the prior year's over or under-valuation in the current year Equalized Value and carries forward into future years
  • Current Year Compensation – one-time adjustment to compensate the municipality for any over or under-valuation of the prior year's Equalized Value; the adjustment is removed the following year


• Amount of All Other Changes
  Can include the following changes:
  • Wisconsin Department of Revenue's market field studies
  • Demolition or destruction of buildings or other improvements
  • Changes in property's exempt status
  • Changes in classification of property
  • Annexation gains or losses
  • Other miscellaneous changes


• Personal Property
  Displays prior year and current year totals by category and percent change, including prior year compensation, for the following:
  • Non-manufacturing personal property
  • Manufacturing personal property
  • Total of all personal property

If you have questions, contact the Equalization Bureau District Office in your area.