Property Valuation
Wisconsin's property assessment is administered at the:
AState level by the Department of Revenue
BMunicipal level by local assessors✓ Correct
CCounty level by county appraisers
DFederal level by the IRS
Explanation
Property assessment in Wisconsin is the responsibility of local municipal assessors. The Wisconsin Department of Revenue provides guidance and oversight but assessments are performed at the municipal level.
Related Wisconsin Property Valuation Questions
- A Wisconsin appraiser who determines that a comparable sale was not arm's-length (e.g., a sale between relatives at below-market price) should:
- A Wisconsin appraiser makes a negative adjustment to a comparable sale because the comparable has a feature the subject property lacks. This means the comparable sold for:
- The Wisconsin sales comparison approach adjusts comparable sales for differences from the subject. An adjustment for a bathroom the comparable lacks is a:
- The gross rent multiplier (GRM) method estimates value by:
- The cost approach to value is most reliable for:
- The principle of substitution in Wisconsin appraisal practice states that:
- In Wisconsin, 'effective age' of a building refers to:
- In the income approach to value, what does the capitalization rate represent?
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