2017 - 2018 LEGISLATURE
March 20, 2018 - Offered by Senators Ringhand, Miller, Shilling, Carpenter,
Bewley, Wirch, Hansen, Larson, L. Taylor, Schachtner, Johnson, Vinehout,
Erpenbach and Risser.
AB259-SA1,1,21 At the locations indicated, amend the bill, as shown by assembly substitute
2amendment 2, as follows:
AB259-SA1,1,4 31. Page 2, line 1: after “purposes;" insert “property tax assessments based on
4comparable sales and market segments;".
AB259-SA1,1,5 52. Page 2, line 3: before that line insert:
AB259-SA1,1,6 6 Section 1b. 70.32 (1b) of the statutes is created to read:
AB259-SA1,1,97 70.32 (1b) (a) To determine the value of property using generally accepted
8appraisal methods, the assessor shall consider all of the following as comparable to
9the property being assessed:
AB259-SA1,1,1110 1. Sales or rentals of properties exhibiting the same or a similar highest and
11best use with placement in the same real estate market segment.
AB259-SA1,2,312 2. Sales or rentals of properties that are similar to the property being assessed
13with regard to age, condition, use, type of construction, location, design, physical

1features, and economic characteristics, including similarities in occupancy and the
2the potential to generate rental income. For purposes of this subdivision, such
3properties may be found locally, regionally, or nationally.
AB259-SA1,2,54 (b) For purposes of par. (a), a property is not comparable if any of the following
AB259-SA1,2,96 1. At or before the time of sale, the seller places any deed restriction on the
7property that changes the highest and best use of the property, or prohibits
8competition, so that it no longer qualifies as a comparable property under par. (a) 1.
9or 2. and the property being assessed lacks such a restriction.
AB259-SA1,2,1410 2. The property is dark property and the property being assessed is not dark
11property. In this subdivision, “dark property” means property that is vacant or
12unoccupied beyond the normal period for property in the same real estate market
13segment. For purposes of this subdivision, what is considered vacant or unoccupied
14beyond the normal period may vary depending on the property location.
AB259-SA1,2,2215 (c) For purposes of par. (a), “highest and best use" means the specific use of the
16property as of the current assessment date or a higher use for which the property may
17be used as of the current assessment date, if the property is marketable for that use
18and the use is legally permissible, physically possible, not highly speculative, and
19financially feasible and provides the highest net return. When the current use of a
20property is the highest and best use of that property, value in the current use equals
21full market value. In this paragraph, “legally permissible” does not include a
22conditional use that has not been granted as of the assessment date.
AB259-SA1,3,323 (d) For purposes of par. (a), “real estate market segment” means a pool of
24potential buyers and sellers that typically buy or sell properties similar to the
25property being assessed, including potential buyers who are investors or

1owner-occupants. For purposes of this paragraph, and depending on the type of
2property being assessed, the pool of potential buyers and sellers may be found locally,
3regionally, nationally, or internationally.”.
AB259-SA1,3,4 43. Page 20, line 14: after that line insert:
AB259-SA1,3,6 5(4m) Dark stores. The treatment of section 70.32 (1b) of the statutes first
6applies to the property tax assessments as of January 1, 2018.”.