KAUKAUNA — Property owners in Kaukauna and other areas throughout the area have recently received updated assessments of the property.
Despite what in many cases is a massive jump in property value, that doesn’t mean the taxes you pay will go up by the same amount.
In fact, some property owners may see their taxes go down even when their assessment goes up.
Here’s how it works:
If everyone’s assessment went up by 50 percent, for example, but your municipality only needs the same amount of money to operate as last year, the taxes you pay — cash out of pocket — will remain the same.
On the other hand, if you’re assessment is above the average of the community as a whole, the amount you pay will likely go up, but not by 50 percent.
Conversely, if your assessment is lower than that average, the taxes you pay actually could go down.
To dispute an assessment, property owners need to go through the board of review process which takes place in September.
TAP HERE for instructions on how to dispute your assessment.
State law requires municipalities to keep their assessments close to market value, and with home prices rising quickly in recent years, it’s no surprise that assessments also are up.
