AB21,801,21 1470.10 Assessment, when made, exemption. The assessor shall assess all
15real and personal property as of the close of January 1 of each year. Except in cities
16of the 1st class and 2nd class cities that have a board of assessors under s. 70.075,
17the assessment shall be finally completed before the first Monday in April. All real
18property conveyed by condemnation or in any other manner to the state, any county,
19city, village or town by gift, purchase, tax deed or power of eminent domain before
20January 2 in such year shall not be included in the assessment. Assessment of
21manufacturing property subject to s. 70.995 shall be made according to that section.

AB21,802,1223 70.11 (2) Municipal property and property of certain districts, exception.
24Property owned by any county, city, village, town, school district, technical college
25district, public inland lake protection and rehabilitation district, metropolitan

1sewerage district, municipal water district created under s. 198.22, joint local water
2authority created under s. 66.0823, long-term care district under s. 46.2895 or town
3sanitary district; lands belonging to cities of any other state used for public parks;
4land tax-deeded to any county or city before January 2; but any residence located
5upon property owned by the county for park purposes that is rented out by the county
6for a nonpark purpose shall not be exempt from taxation. Except as to land acquired
7under s. 59.84 (2) (d), this exemption shall not apply to land conveyed after
8August 17, 1961, to any such governmental unit or for its benefit while the grantor
9or others for his or her benefit are permitted to occupy the land or part thereof in
10consideration for the conveyance. Leasing the property exempt under this
11subsection, regardless of the lessee and the use of the leasehold income, does not
12render that property taxable.

AB21,802,1514 70.11 (4b) (b) It is financed by the Housing and Economic Development
15Authority under s. 234.03 (13), 2013 stats.

AB21,802,1817 70.11 (4b) (c) The Housing and Economic Forward Wisconsin Development
18Authority holds a first-lien mortgage security interest on it.

AB21,802,2420 70.11 (38c) University of Wisconsin System Authority. Notwithstanding the
21provisions of s. 70.11 (intro.) that relate to leased property, all property owned by the
22University of Wisconsin System Authority and all property leased to the University
23of Wisconsin System Authority that is owned by the state, provided that use of the
24property is primarily related to the purposes of the authority.

AB21,803,5

170.11 (38r) Economic Development Corporation Forward Authority. All
2property owned by the Wisconsin Economic Development Corporation Forward
3Wisconsin Development Authority, provided that use of the property is primarily
4related to the purposes of the Wisconsin Economic Development Corporation
5Forward Wisconsin Development Authority.

AB21,803,88 70.114 (1) (ag) "Board" means the board of commissioners of public lands.

AB21,804,310 70.114 (1) (b) 2. For land purchased on or after July 1, 2011, "estimated value,"
11for the year during which land is purchased, means the lesser of the purchase price
12or the determination of the land's equalized valuation under s. 70.57 in the year
13before the year during which the land is purchased, increased or decreased to reflect
14the annual percentage change in the equalized valuation of all property, excluding
15improvements, in the taxation district, as determined by comparing the most recent
16determination of equalized valuation under s. 70.57 for that property, except that if
17the land was exempt from taxation in the year prior to the year during which the
18Department department or board purchased the land, or enrolled in the forest
19cropland program under subch. I of ch. 77 or the managed forest land program under
20subch. VI of ch. 77 at the time of purchase, "estimated value," for the year during
21which the land is purchased, means the lesser of the purchase price or an amount
22that would result in a payment under sub. (4) that is equal to $10 per acre.
23"Estimated value," for later years, means the value that was used for calculating the
24aid payment under this section for the prior year increased or decreased to reflect the
25annual percentage change in the equalized valuation of all property, excluding

1improvements, in the taxation district, as determined by comparing the most recent
2determination of equalized valuation under s. 70.57 for that property to the next
3preceding determination of equalized valuation under s. 70.57 for that property.

AB21,804,95 70.114 (1) (c) "Land" means state forests, as defined in s. 28.02 (1), that are
6acquired after December 31, 1991, state parks that are acquired after
7December 31, 1991, under s. 27.01 and other areas that are acquired after
8December 31, 1991, under s. 23.09 (2) (d), 23.091, 23.27, 23.29, 23.293, 23.31, 24.61
9(2) (a) 10., or 29.749 (1).

AB21,804,2211 70.114 (1) (d) "Purchase price" means the amount paid by the department or
12the board for a fee simple interest in real property. "Purchase price" does not include
13administrative costs incurred by the department or the board to acquire the land,
14such as legal fees, appraisal costs or recording fees. If real estate is transferred to
15the department or the board by gift or is sold to the department or the board for an
16amount that is less than the estimated fair market value of the property as shown
17on the property tax bill prepared for the prior year under s. 74.09, "purchase price"
18means an amount equal to the estimated fair market value of the property as shown
19on that tax bill. If the real estate is exempt from taxation at the time that it is
20transferred or sold to the department or the board and if the property was not sold
21at an arm's-length sale, "purchase price" means the fair market value of the real
22estate at the time that the department or the board takes title to it.

AB21,805,3

170.114 (3) Ascertaining rate. Each year, the department or the board shall
2ascertain the aggregate net general property tax rate for taxation districts to which
3aids are paid under this section by the department or the board.

AB21,805,125 70.114 (4) (a) Except as provided under par. (c), on or before January 31, the
6department or the board shall pay to each treasurer of a taxation district, with
7respect to each parcel of land acquired by the department or the board within the
8taxation district on or before January 1 of the preceding year, an amount determined
9by multiplying each parcel's estimated value equated to the average level of
10assessment in the taxation district by the aggregate net general property tax rate
11that would apply to the parcel of land if it were taxable, as shown on property tax bills
12prepared for that year under s. 74.09.