House & Home
Fri, August 1, 2025
[ Today @ 12:03 AM ]: MarketWatch
Thu, July 31, 2025
[ Yesterday Evening ]: Los Angeles Daily News
[ Yesterday Evening ]: rnz
[ Yesterday Evening ]: El Paso Times
[ Yesterday Evening ]: KUTV
[ Yesterday Evening ]: WABI-TV
[ Yesterday Afternoon ]: Fortune
[ Yesterday Afternoon ]: WSB-TV
[ Yesterday Afternoon ]: Fox 11 News
[ Yesterday Afternoon ]: Realtor.com
[ Yesterday Afternoon ]: Local 12 WKRC Cincinnati
[ Yesterday Afternoon ]: Investopedia
[ Yesterday Morning ]: Wall Street Journal
[ Yesterday Morning ]: RTE Online
[ Yesterday Morning ]: fingerlakes1
[ Yesterday Morning ]: New York Post
[ Yesterday Morning ]: Fortune
[ Yesterday Morning ]: CNET
[ Yesterday Morning ]: World Socialist Web Site
[ Yesterday Morning ]: moneycontrol.com
Wed, July 30, 2025
[ Last Wednesday ]: wjla
[ Last Wednesday ]: Fortune
[ Last Wednesday ]: wjla
[ Last Wednesday ]: Local 12 WKRC Cincinnati
[ Last Wednesday ]: New York Post
[ Last Wednesday ]: Investopedia
[ Last Wednesday ]: reuters.com
[ Last Wednesday ]: HousingWire
[ Last Wednesday ]: MarketWatch
[ Last Wednesday ]: FOX 5 Atlanta
[ Last Wednesday ]: Realtor.com
[ Last Wednesday ]: United Press International
[ Last Wednesday ]: Forbes
[ Last Wednesday ]: fingerlakes1
[ Last Wednesday ]: Wall Street Journal
[ Last Wednesday ]: ABC Kcrg 9
[ Last Wednesday ]: The Baltimore Sun
[ Last Wednesday ]: Newsweek
[ Last Wednesday ]: WITI
[ Last Wednesday ]: The Baltimore Sun
[ Last Wednesday ]: The Boston Globe
[ Last Wednesday ]: Newsweek
[ Last Wednesday ]: CNET
[ Last Wednesday ]: CNET
[ Last Wednesday ]: Fortune
[ Last Wednesday ]: Local 12 WKRC Cincinnati
Tue, July 29, 2025
[ Last Tuesday ]: Fortune
[ Last Tuesday ]: WGME
[ Last Tuesday ]: Investopedia
[ Last Tuesday ]: al.com
[ Last Tuesday ]: Fox 23
[ Last Tuesday ]: HousingWire
[ Last Tuesday ]: HousingWire
[ Last Tuesday ]: Reason.com
[ Last Tuesday ]: Southwest Times Record
[ Last Tuesday ]: WSB-TV
[ Last Tuesday ]: The Daily Advertiser
[ Last Tuesday ]: Wall Street Journal
[ Last Tuesday ]: BBC
[ Last Tuesday ]: FOX 5 Atlanta
[ Last Tuesday ]: fingerlakes1
[ Last Tuesday ]: BBC
[ Last Tuesday ]: Milwaukee Journal Sentinel
[ Last Tuesday ]: Cleveland.com
[ Last Tuesday ]: CNET
[ Last Tuesday ]: reuters.com
[ Last Tuesday ]: Fortune
[ Last Tuesday ]: CBS News
Mon, July 28, 2025
[ Last Monday ]: InStyle
[ Last Monday ]: WGME
[ Last Monday ]: Local 12 WKRC Cincinnati
[ Last Monday ]: Seeking Alpha
[ Last Monday ]: Fox 11 News
[ Last Monday ]: HuffPost
[ Last Monday ]: Journal Star
[ Last Monday ]: London Evening Standard
[ Last Monday ]: Investopedia
[ Last Monday ]: Fortune
[ Last Monday ]: Military Times
[ Last Monday ]: Forbes
[ Last Monday ]: ABC Kcrg 9
[ Last Monday ]: Lincoln Journal Star
[ Last Monday ]: fingerlakes1
[ Last Monday ]: Wall Street Journal
[ Last Monday ]: BBC
[ Last Monday ]: WSMV
[ Last Monday ]: The Courier-Journal
[ Last Monday ]: CNET
[ Last Monday ]: NOLA.com
Sun, July 27, 2025
[ Last Sunday ]: deseret
[ Last Sunday ]: CNN
[ Last Sunday ]: Fortune
[ Last Sunday ]: Longview News-Journal
[ Last Sunday ]: The Citizen
[ Last Sunday ]: WTOP News
[ Last Sunday ]: news4sanantonio
[ Last Sunday ]: CBS 58 News
[ Last Sunday ]: BBC
[ Last Sunday ]: 14 NEWS
[ Last Sunday ]: Fox News
[ Last Sunday ]: The Scotsman
[ Last Sunday ]: The Globe and Mail
[ Last Sunday ]: reuters.com
[ Last Sunday ]: Hackaday
[ Last Sunday ]: Impacts
[ Last Sunday ]: Wall Street Journal
[ Last Sunday ]: Action News Jax
[ Last Sunday ]: Newsweek
Sat, July 26, 2025
[ Last Saturday ]: deseret
[ Last Saturday ]: HousingWire
[ Last Saturday ]: WLAX La Crosse
[ Last Saturday ]: CBS News
[ Last Saturday ]: Realtor.com
[ Last Saturday ]: WFXR Roanoke
[ Last Saturday ]: Investopedia
[ Last Saturday ]: OPB
[ Last Saturday ]: Daily Record
[ Last Saturday ]: fingerlakes1
[ Last Saturday ]: BBC
Fri, July 25, 2025
[ Last Friday ]: Newsweek
[ Last Friday ]: The Independent
[ Fri, Jul 25th ]: Missoulian
[ Fri, Jul 25th ]: Fox 11 News
[ Fri, Jul 25th ]: HousingWire
[ Fri, Jul 25th ]: NewsNation
[ Fri, Jul 25th ]: Auburn Citizen
[ Fri, Jul 25th ]: wjla
[ Fri, Jul 25th ]: Investopedia
[ Fri, Jul 25th ]: nbcnews.com
[ Fri, Jul 25th ]: CNN
[ Fri, Jul 25th ]: Forbes
[ Fri, Jul 25th ]: Wall Street Journal
[ Fri, Jul 25th ]: fingerlakes1
[ Fri, Jul 25th ]: CNET
[ Fri, Jul 25th ]: Fortune
[ Fri, Jul 25th ]: Local 12 WKRC Cincinnati
[ Fri, Jul 25th ]: rnz
[ Fri, Jul 25th ]: WPTV-TV
Thu, July 24, 2025
[ Thu, Jul 24th ]: London Evening Standard
[ Thu, Jul 24th ]: The Motley Fool
[ Thu, Jul 24th ]: Realtor.com
[ Thu, Jul 24th ]: HousingWire
[ Thu, Jul 24th ]: The News-Herald
[ Thu, Jul 24th ]: Fox 11 News
[ Thu, Jul 24th ]: Forbes
[ Thu, Jul 24th ]: Investopedia
[ Thu, Jul 24th ]: Seeking Alpha
[ Thu, Jul 24th ]: The Hill
[ Thu, Jul 24th ]: Fox News
[ Thu, Jul 24th ]: Wall Street Journal
[ Thu, Jul 24th ]: RTE Online
[ Thu, Jul 24th ]: ABC7 San Francisco
[ Thu, Jul 24th ]: Newsweek
[ Thu, Jul 24th ]: fingerlakes1
[ Thu, Jul 24th ]: CNET
[ Thu, Jul 24th ]: Fortune
[ Thu, Jul 24th ]: yahoo.com
[ Thu, Jul 24th ]: HELLO! Magazine
[ Thu, Jul 24th ]: Seattle Times
Wed, July 23, 2025
[ Wed, Jul 23rd ]: nbcnews.com
[ Wed, Jul 23rd ]: WJHL Tri-Cities
[ Wed, Jul 23rd ]: ABC
[ Wed, Jul 23rd ]: WSB-TV
[ Wed, Jul 23rd ]: KKTV11
[ Wed, Jul 23rd ]: The Independent
[ Wed, Jul 23rd ]: CBS News
[ Wed, Jul 23rd ]: wjla
[ Wed, Jul 23rd ]: HousingWire
[ Wed, Jul 23rd ]: KUTV
[ Wed, Jul 23rd ]: news4sanantonio
[ Wed, Jul 23rd ]: WNYT NewsChannel 13
[ Wed, Jul 23rd ]: CNBC
[ Wed, Jul 23rd ]: NBC New York
[ Wed, Jul 23rd ]: Investopedia
[ Wed, Jul 23rd ]: KOB 4
[ Wed, Jul 23rd ]: Realtor.com
[ Wed, Jul 23rd ]: fingerlakes1
[ Wed, Jul 23rd ]: Global News
[ Wed, Jul 23rd ]: Wall Street Journal
[ Wed, Jul 23rd ]: Fox News
[ Wed, Jul 23rd ]: Forbes
[ Wed, Jul 23rd ]: The West Australian
[ Wed, Jul 23rd ]: KHQ
[ Wed, Jul 23rd ]: abc7NY
[ Wed, Jul 23rd ]: London Evening Standard
[ Wed, Jul 23rd ]: Newsweek
[ Wed, Jul 23rd ]: The Irish News
[ Wed, Jul 23rd ]: The New York Times
[ Wed, Jul 23rd ]: CNET
[ Wed, Jul 23rd ]: Fortune
[ Wed, Jul 23rd ]: BBC
[ Wed, Jul 23rd ]: Seeking Alpha
Tue, July 22, 2025
[ Tue, Jul 22nd ]: CBS News
[ Tue, Jul 22nd ]: wtvr
[ Tue, Jul 22nd ]: Deseret News
[ Tue, Jul 22nd ]: news4sanantonio
Wauwatosa property assessments; homeowners seeing increase
//house-home.news-articles.net/content/2025/07/3 .. erty-assessments-homeowners-seeing-increase.html
Published in House and Home on Wednesday, July 30th 2025 at 7:10 GMT by WITI🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The Wauwatosa assessor's office said, on average, homeowners are seeing a more than 50% increase in property assessments going up.
Wauwatosa Homeowners Grapple with Soaring Property Assessments Amid Booming Real Estate Market
In the suburban enclave of Wauwatosa, Wisconsin, a wave of property assessment notices has been landing in mailboxes, leaving many homeowners stunned by dramatic increases in their home values. This periodic revaluation, mandated by state law to ensure fair taxation, has sparked a mix of confusion, frustration, and strategic planning among residents as they confront the possibility of higher property tax bills. The assessments, which reflect market conditions as of January 1, 2023, highlight the rapid appreciation in housing values driven by a competitive real estate landscape in the Milwaukee metropolitan area.
The process of property assessment in Wauwatosa is not arbitrary; it's a systematic evaluation conducted by the city's assessor's office to align taxable values with current market realities. Every few years, the city undertakes a full revaluation to prevent inequities where some properties are undervalued while others are overassessed. The latest round, completed in 2023, marks the first comprehensive update since 2018, a period that has seen unprecedented shifts in the housing market. Factors such as low inventory, high demand from urban transplants seeking suburban charm, and economic recovery post-pandemic have fueled a surge in home prices. According to city data, the average residential property assessment in Wauwatosa has risen by approximately 30% since the last cycle, with some neighborhoods experiencing jumps as high as 50%.
For many homeowners, the news came as a shock. Take, for instance, long-time resident Sarah Jenkins, who lives in a modest three-bedroom bungalow in the Pasadena neighborhood. Her home's assessed value leaped from $250,000 in 2018 to $375,000 in the new notices. "I knew the market was hot, but this feels like a gut punch," Jenkins shared. "We've made some updates over the years, but nothing extravagant. Now, I'm worried about how this will hit our taxes." Jenkins is not alone; social media groups and community forums in Wauwatosa are buzzing with similar stories. One Facebook post from a local homeowners' association garnered hundreds of comments, with residents swapping tales of assessments that doubled or even tripled for older properties in desirable areas like the Village district.
City officials emphasize that these increases are not punitive but rather a reflection of broader economic trends. Wauwatosa's Assessor, Mark Kenney, explained that the revaluation is based on arm's-length sales data from comparable properties sold in the past year. "We're not inventing these numbers," Kenney stated. "The market dictates the value. If homes in your neighborhood are selling for $400,000, it's our job to ensure your assessment aligns with that to maintain equity across the board." He pointed out that Wauwatosa's proximity to Milwaukee, combined with its walkable neighborhoods, excellent schools, and amenities like the Mayfair Mall, has made it a hotspot for buyers. Data from real estate analytics firms shows that median home prices in Wauwatosa climbed from around $280,000 in 2018 to over $400,000 by mid-2023, a trend mirrored in the assessments.
The ripple effects extend beyond mere sticker shock. Property taxes in Wisconsin are calculated based on the assessed value multiplied by the local mill rate, which is set annually by the city, school district, and county. While the assessments themselves don't directly determine taxes—the mill rate can be adjusted to control overall revenue—the increases often lead to higher bills unless offset by rate reductions. In Wauwatosa, the 2023 mill rate was approximately 22.5 mills, meaning a $100,000 increase in assessment could translate to an additional $2,250 in annual taxes, depending on exemptions and other factors. This has prompted concerns among fixed-income retirees and young families who bought homes at lower prices years ago.
Not all reactions are negative, however. Some homeowners view the higher assessments as a validation of their investment. Real estate agent Tom Reilly, who has worked in Wauwatosa for over a decade, noted that the updates could benefit sellers in a hot market. "If you're planning to sell, this is great news—your home is worth more than you thought," Reilly said. "But for those staying put, it's a reminder to budget for potential tax hikes." He advised clients to review their assessments carefully, looking for errors in square footage, lot size, or condition descriptions that might warrant an appeal.
Appeals are indeed a key recourse for dissatisfied homeowners. The city's assessor's office has scheduled open book sessions where residents can informally discuss their valuations with assessors. If unresolved, a formal appeal to the Board of Review is possible, typically requiring evidence like recent appraisals or photos of property defects. Last year, during a similar revaluation in nearby suburbs, about 10% of assessments were appealed, with roughly half resulting in adjustments. Kenney encouraged transparency, stating, "We're here to explain the process and make corrections if needed. Our goal is accuracy, not revenue generation."
This situation in Wauwatosa is emblematic of a nationwide trend where post-pandemic housing booms have led to reassessment sticker shock in many communities. In Wisconsin alone, cities like Madison and Green Bay have reported similar double-digit increases, prompting legislative discussions on tax relief measures. State lawmakers have floated ideas such as circuit breakers for low-income households or caps on assessment growth, though nothing has been enacted yet. Locally, Wauwatosa's Common Council is monitoring the fallout, with some alderpersons advocating for mill rate adjustments to soften the blow. "We don't want to price people out of their homes," said Alderman Jason Kofroth. "Balancing fair assessments with affordability is crucial."
Beyond the immediate tax implications, the assessments underscore deeper issues in the housing market. Wauwatosa, with its blend of historic homes and modern developments, has seen an influx of younger professionals drawn by remote work flexibility and urban-suburban hybrid living. This demand has outpaced supply, exacerbating affordability challenges. Community advocates argue that while rising values boost city revenues for services like parks and schools, they also risk displacing long-term residents. "It's a double-edged sword," said Maria Gonzalez, a local housing activist. "We need policies that protect vulnerable populations, perhaps through targeted exemptions or incentives for first-time buyers."
As the appeal window closes in late spring, many Wauwatosa homeowners are taking proactive steps. Workshops hosted by the city's finance department are filling up, offering guidance on understanding assessments and budgeting for taxes. Online tools allow residents to compare their values with neighbors, fostering a sense of community scrutiny. For Jenkins, the initial dismay has given way to action: she's gathering comparables and scheduling a meeting with the assessor. "I love this neighborhood," she said. "I just want to make sure the numbers are right so we can stay here without breaking the bank."
Looking ahead, experts predict that as interest rates stabilize and more inventory enters the market, assessment growth may moderate in future cycles. However, with Wauwatosa's ongoing appeal as a desirable place to live, property values are unlikely to plummet. The current revaluation serves as a stark reminder of the dynamic nature of real estate and the importance of staying informed. For now, homeowners are navigating this new reality, balancing the pride of increased equity with the practicalities of rising costs. In a city where community ties run deep, these assessments are more than numbers—they're a conversation starter about growth, fairness, and the future of suburban living.
This revaluation isn't isolated; it's part of a broader effort to keep municipal finances sustainable. Wauwatosa's budget relies heavily on property taxes, funding everything from public safety to infrastructure improvements. Officials stress that accurate assessments ensure that commercial properties, which have also seen value spikes, contribute their fair share, potentially easing the residential burden. Yet, for individual households, the personal impact looms large. Stories abound of families reevaluating their finances, from cutting back on vacations to exploring home equity loans to cover potential tax shortfalls.
In the end, the 2023 assessments in Wauwatosa encapsulate the highs and lows of a thriving housing market. They celebrate economic vitality while highlighting the need for equitable policies. As residents digest the changes, the city stands at a crossroads, poised to address concerns through dialogue and potential reforms. Whether through appeals, rate adjustments, or state-level interventions, the goal remains clear: maintaining Wauwatosa as an accessible, vibrant community for all. (Word count: 1,248)
Read the Full WITI Article at:
[ https://www.yahoo.com/news/articles/wauwatosa-property-assessments-homeowners-seeing-030328229.html ]
Similar House and Home Publications
[ Last Tuesday ]: Investopedia
[ Last Tuesday ]: The Daily Advertiser