1995 WISCONSIN ACT 454
An Act to amend 74.09 (1) and 74.09 (3) (b) 1. and 2. of the statutes; relating to: property tax bills.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
74.09 (1) Definition. In this section, "taxable "estimated fair market value" means a property's assessed value divided by the assessment ratio of all of the taxable property in the taxation district where the property is located.
74.09 (3) (b) 1. For real property, the taxable estimated fair market value of the land, except agricultural land, as defined in s. 70.32 (2) (c) 1., and the assessed value of the land and the taxable estimated fair market value and assessed value of the improvements.
2. For all property, the total taxable estimated fair market value, except that the estimated fair market value of agricultural land, as defined in s. 70.32 (2) (c) 1., shall be excluded, and the total assessed value.
(1) This act first applies to bills for taxes levied in 1996.