Understanding the Revaluation

How the Revaluation Affects You and Your Taxes

The 2007 Revaluation reflects an increase over the last Valuation conducted in 2003. This increase reflects market growth over that 4 year period and is determined as of January 2007.

In a majority of cases, your property assessment reflects the market value increase over the past 4 years. This is not a 1 year increase.

The Wisconsin Department of Revenue (DOR) assigns property values to local governments. These valuations are determined by sales reported in the Town the previous year. In 2005, the town was more 13% under of the DOR valuation and in 2006, we were under 20%. (This percentage is reflected on your tax bill as "Ave. Assmt. Ratio which was .8021)

Without a valuation this year, the town would have been under 32% of the DOR valuation. After the revaluation, we are within 3% of the DOR target and in compliance with state statutes.

Whenever the the local valuations fall out of the DOR's assessment range, a Revaluation is required. In the majority of cases, the Property Owner's Tax bill is unaffected by this.

Follow this explanation of the tax levy and how it is applied against your tax bill:

The 2006 Mill Rate for the Town of Merrimac for residents in the Sauk Prairie School District was $16.12 based on $163,386,200 valuation and a total tax levy of $2,749,866.10. Of this $2.7 million, the Town's portion is only $194,231.

The Revaluation raised the total valuation for this District to $23,364,266 in total valuation. Using this amount, the new Mill Rate on the same tax bill would be $11.27.

If you are in the Baraboo School District, the mill rate would go from $15.49 down to $10.62.

Example:

A $100,000 home in the Sauk Prairie School District paid $1,612 in taxes in 2006. If the same home has increased to $143,000, the same tax bill would be $1,612.

To determine what your tax bill for 2007 would be using the last year's tax levy, divide your total assessment by 100, then multiply by the new mill rate for your school district.

**Ultimately, your tax bill is made up of tax levies from 5 government entities and the Town does not control the levies of the other 4 districts, so this illustration does not assure a property tax increase is not inevitable.**

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