2021 - 2022 LEGISLATURE
October 20, 2021 - Introduced by Senator Feyen, cosponsored by Representatives
Brooks, Armstrong, Dittrich, Gundrum, Kitchens, Edming and Schraa.
Referred to Committee on Housing, Commerce and Trade.
1An Act to amend
70.32 (1); and to create
70.32 (1p) of the statutes;
2to: prohibiting certain property tax assessment practices.
Analysis by the Legislative Reference Bureau
Under this bill, assessors may not do any of the following when assessing the
value of real property for property tax purposes:
1. Use mortgages or bank appraisals, or any portion thereof, to determine the
2. Use projected rents and other future or anticipated benefits to determine fair
3. Use list and asking prices or rents to determine fair market value.
4. Use price trends to determine fair market value in order to increase the value
of multiple properties by a general amount or percentage.
5. Consider the value of a club house, swimming pool, or other amenity that is
part of a multifamily property when assessing the multifamily property if the club
house receives minimal or no rental income, regardless of whether the club house is
located on a separate lot.
The bill also provides that when there is an inconsistency or ambiguity between
the Wisconsin Property Assessment Manual and a statute, the statute controls the
practices of the assessor.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
70.32 (1) of the statutes is amended to read:
Real property shall be valued by the assessor in the manner specified 3
in the Wisconsin property assessment manual provided under s. 73.03 (2a) from 4
actual view or from the best information that the assessor can practicably obtain, at 5
the full value which could ordinarily be obtained therefor at private sale. In Subject
6to sub. (1p), in
determining the value, the assessor shall consider recent 7
arm's-length sales of the property to be assessed if according to professionally 8
acceptable appraisal practices those sales conform to recent arm's-length sales of 9
reasonably comparable property; recent arm's-length sales of reasonably 10
comparable property; and all factors that, according to professionally acceptable 11
appraisal practices, affect the value of the property to be assessed.
12the value, if there is an inconsistency or ambiguity between the Wisconsin property
13assessment manual provided under s. 73.03 (2a) and a statute, the statute shall
14control the practices of the assessor.
70.32 (1p) of the statutes is created to read:
Beginning with the property tax assessments as of January 1, 2022, 17
the assessor may not do any of the following when determining the value of real 18
(a) Use a mortgage or bank appraisal, or any portion thereof, to determine the 20
property's assessed value.
(b) Use projected rents and other future or anticipated benefits to determine 2
fair market value.
(c) Use list or asking prices, or list or asking rents, to determine fair market 4
(d) Use price trends to determine fair market value in order to increase the 6
assessed value of multiple properties by a general amount or percentage.
(e) Take into consideration the value of a club house, swimming pool, or other 8
amenity that is part of a multifamily property when assessing the multifamily 9
property if the club house receives minimal or no rental income, regardless of 10
whether the club house is located on a separate lot.