What does a Market Update mean to you?
Here are answers to commonly asked questions.
Why a Market Update?
Wisconsin Statutes specifically require periodic updates to bring assessed values in line with market values. 2023 is the year for City of Brookfield properties to be revalued.
What is Market Value?
Market value is what a typical buyer would pay for your property.
Is my house worth more today than 4 years ago?
Yes - House and land values have gone up or you may have improved your property since the last revaluation.
How is a Market Update conducted?
City of Brookfield appraisers will view the exterior, inspect properties with permits, review the sales data and value every property. In late spring, the City will send you a notice of your new value. You then, will have an opportunity to examine your valuation and/or discuss.
Does a Market Update mean higher taxes?
No – An update has no impact on the amount of taxes collected. However, it may change your property’s percentage share of total taxes collected – up, down, or have a minimal effect.
For additional information call the Assessor’s office at 262-796-6649