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Your share of taxes are affected by the value of your property, but the actual amount you pay is determined by the budget needs of the school, county, village, technical college, and state. Once these needs are determined, a tax rate is adopted (usually in early December) and will generate the needed dollars. Your property taxes are calculated by multiplying the tax rate by your assessment.
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A revaluation is a complete and thorough review of all property assessed values. During a Village of Plover revaluation all assessed values are examined and adjustments are made where necessary to guarantee that all property is assessed at market value. This is done to assure that taxes are distributed equitably and uniformly.
The last revaluation for the Village of Plover was completed as of January 1, 2005. The village reevaluates for several reasons:
The assessor is a State certified individual whose duties are to discover, list, and place a value on all taxable real and personal property in the Village of Plover, in a uniform manner. The assessor is not involved in the collection of property taxes.
Wisconsin Law requires that property assessed values be based on fair market value. Estimating the market value of your property in the Village of Plover is a matter of determining the price a typical buyer would pay for it in its present condition.
Market value is defined as the amount a typical, well-informed purchaser would be willing to pay for a property. The seller and buyer must be unrelated, the seller must be willing, but not under pressure to sell, and the buyer must be willing, but not under any obligation to buy. The property must be on the market for a reasonable length of time, the payment must be in cash or its equivalent, and the financing must be typical for that type of property. If all of these conditions are present, this would be a market value, arm's-length sale.
Wisconsin Law requires that property be valued from actual view or the best information available. We do have records on the physical characteristics of each property in the Village. To ensure an accurate assessment on a building, it is to your advantage that the assessor see the inside as well as the outside of the property. When an interior inspection is not allowed, your assessment will still be reviewed based on looking at the property from the outside, sales of properties similar to yours, and using any other available information. By denying an inspection, you may lose the right to appeal your assessment to the Board of Review.
Your construction cost is a historical figure, which may or may not reflect the current market value of your property. It is only one element that will be considered.
Generally speaking, improvements that increase the market value of a property will increase the assessed value. The following are typical items that will increase the assessed value of your property in the Village of Plover:
Good maintenance will help retain the market value of your property. Generally, your assessment will not be increased in the Village of Plover for individual minor repairs such as those that follow. However, a combination of several of these items could result in an increased assessment.
General economic conditions such as interest rates, inflation rates, and changes in the tax laws, will influence the value of real estate. As property values change in the market place here in the Village of Plover, those changes must be reflected on the assessment roll.
There are differences between individual properties and between neighborhoods. In one area of the Village residential sales may indicate a substantial increase in value in a given year. In another neighborhood the increase may not be significant.
Different types of properties within the same neighborhood may also show different value changes. For example, one-story houses may be more in demand than two-story houses, or vice-versa. Older homes in the same area may be rising in value more slowly than newer homes.
Generally, commercial and industrial properties do not appreciate at the same rate as single family residential homes.
There are numerous factors to be considered in the Village of Plover, which will cause each property's values to differ. Some of the factors that can affect value are location, condition, size, quality, number of baths, basement finish, garages, and many others.
Wisconsin law requires that whenever an assessment is increased or decreased, the owner must be notified. The Village of Plover will always notify any property owners that have a change in their assessment in the spring of the year, prior to the annual Board of Review.
You should first attempt to decide for yourself what your property is worth. This can be done by looking at area sales, contacting appraisers, and comparing assessments of similar homes. Sales and assessment information is available in our office and open to the public for review during regular office hours.
Talk with a member of the assessment staff during the Open Book period. Open Book is set up primarily to answer any questions and/or concerns regarding your assessment. It is during this time period that the property owner should present to the assessor or staff any information they have concerning the property value. The assessment staff will discuss this information and other information with the property owner.
After talking with the assessor, owners who still feel the value of the property is incorrect shall file with the Village Clerk a Notice of Intent at least 48 hours before the first meeting of the Board of Review. In addition a properly completed objection form must be filed with the Village Clerk prior to or within the first two hours of the first meeting of the Board of Review.
Similar to a court, the Board of Review has the responsibility of deciding if the assessment is correct based upon oral evidence by both the taxpayer and the assessor. After hearing the evidence, the Board may decide to lower, raise or sustain the assessment.
The Board of Review consists of the majority of Village Board members and the Village clerk. It is the Board's duty to hear sworn oral testimony from the property owner and the assessor, regarding assessed values, and to decide if the valuation is correct. Stating that property taxes are too high is not relevant testimony. The Board of Review will only hear objections to your property value-not to dissatisfaction with your tax amount. It is the property owner's responsibility to provide evidence strong enough to prove that the assessor's value is incorrect. The best evidence would be a recent arms-length sale of your property. The next best evidence would be recent arms-length sales of properties that are similar to yours. A recent appraisal of your property would also be helpful.
The Board will either give or mail you a notice of its decision. If you do not agree with the Board of Review's determination, the notice will contain information on how you may appeal the Board's decision.