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Law Requirements
The Wisconsin State Law requires that all assessments:
Market Value
Market value is defined as the amount a typical, well-informed buyer would be willing to pay for a property under typical market conditions. Typical conditions include:
Objective of the Assessor
Property assessment is the process of valuing all taxable real and personal property in a municipality for the purpose of creating equitable assessments at market value. The basic objective of the Assessor is to achieve equity in the assessments so each property only bears its fair share of the property tax burden.
Multiple Assessments
If you recently bought property and it was assessed at the time of the purchase, it may need to be assessed again. This is because it was most likely appraised for your lender not assessed by our department. However, we do request to inspect all new sales. We do this to verify our records and to gather pertinent information regarding the sale. This typically is done several months after the actual sale.
- Are valued at 100% of Market Value
- Are equitable within each class or property
Market Value
Market value is defined as the amount a typical, well-informed buyer would be willing to pay for a property under typical market conditions. Typical conditions include:
- Buyer and seller being unrelated
- Seller willing to sell but not under undue pressure to sell
- Buyer willing to buy but not under obligation to buy
- Property must be on the open market for a reasonable length of time
- Payment must be in cash or its equivalent with typical market-place financing
Objective of the Assessor
Property assessment is the process of valuing all taxable real and personal property in a municipality for the purpose of creating equitable assessments at market value. The basic objective of the Assessor is to achieve equity in the assessments so each property only bears its fair share of the property tax burden.
Multiple Assessments
If you recently bought property and it was assessed at the time of the purchase, it may need to be assessed again. This is because it was most likely appraised for your lender not assessed by our department. However, we do request to inspect all new sales. We do this to verify our records and to gather pertinent information regarding the sale. This typically is done several months after the actual sale.
Contact Us
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Debbie Mason
City Assessor
Email
City Hall
300 E. Main St.
2nd Floor
Sun Prairie, WI 53590
Hours Monday - Friday
8 a.m. - 4:30 p.m.
Phone: 608 825-1186
Fax: 608 825-1194
Staff Directory
- What is the assessed value of my property
- How does the assessment process work?
- What is the tax rate or mill rate?
- Isn't the assessment supposed to be less than that I paid for the property?
- I recently bought my property and it was assessed at that time. Why do you need to assess it again?
- Why does the Assessor conduct property inspections?
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