Our property tax and values report is an annual publication that measures trends in property values and examines how they impact the capacity of local governments and school districts to raise revenues. We find that the region’s gross property tax collections increased by 1.8% in 2016, while the aggregate tax rate declined for the second consecutive year. Meanwhile, property values in the region increased by 3.2%.
Research highlights:
- For the third consecutive year, every county in the region experienced an increase in property values. This is the first year since 2006 that the region’s growth exceeded that of the state.
- The City of Milwaukee experienced a robust 4.1% increase in equalized property values, its highest annual growth since 2007.
- Commercial property values continue to drive the region’s overall growth, increasing by 4.7% and outpacing the 3.8% growth in commercial value experienced by the state as a whole.
- Every county in the region saw an increase in its aggregate gross tax levy in 2016, with Racine County experiencing the largest (4.7%) and Milwaukee County the smallest (0.9%).
- The hypothetical average tax bill in the region increased by 1.2%. However, because the average residential value remains well below its pre-recession peak, the region’s hypothetical gross property tax bill for residents is lower than in 2008.