MADISON — Wisconsin’s 13.1% increase in total equalized property values in 2023 was the second-largest percentage increase since at least 1985, topped only by slightly higher growth in 2022.

Gross property tax levies approved by local jurisdictions in late 2022 increased 2.4% statewide. This was greater than the 2021 increase of 1.6% but still less than increases in 2019 and 2020. It also was far less than the 8% rate of inflation in 2022.

Because annual growth in property values exceeded the growth in levies, the statewide gross property tax rate declined 10%. It was the ninth consecutive year in which the state’s aggregate tax rate has declined, and the largest decline since 1996.

These are among the key statewide findings from the Forum’s newly updated 2023 Property Values and Taxes DataTool, which features data for all of Wisconsin’s 72 counties and 1,850 cities, villages, and towns. It is the latest in a series of Forum interactive tools meant to provide all Wisconsinites with relevant facts about their schools, local governments, and state and regional economy.

It uses state data on December 2022 property tax levies and tax rates adopted for 2023 budgets, as well as updated property values as of January 1, 2023 that will be used to calculate tax bills this coming December. It also includes findings on key property value and tax trends for southeast Wisconsin and Dane County.

Wisconsin’s 13.1% increase in total equalized property values in 2023 was the second-largest percentage increase since at least 1985, topped only by slightly higher growth in 2022.

Gross property tax levies approved by local jurisdictions in late 2022 increased 2.4% statewide. This was greater than the 2021 increase of 1.6% but still less than increases in 2019 and 2020. It also was far less than the 8% rate of inflation in 2022.

Because annual growth in property values exceeded the growth in levies, the statewide gross property tax rate declined 10%. It was the ninth consecutive year in which the state’s aggregate tax rate has declined, and the largest decline since 1996.

These are among the key statewide findings from the Forum’s newly updated 2023 Property Values and Taxes DataTool, which features data for all of Wisconsin’s 72 counties and 1,850 cities, villages, and towns. It is the latest in a series of Forum interactive tools meant to provide all Wisconsinites with relevant facts about their schools, local governments, and state and regional economy.

It uses state data on December 2022 property tax levies and tax rates adopted for 2023 budgets, as well as updated property values as of January 1, 2023 that will be used to calculate tax bills this coming December. It also includes findings on key property value and tax trends for southeast Wisconsin and Dane County.

Wisconsin’s 13.1% increase in total equalized property values in 2023 was the second-largest percentage increase since at least 1985, topped only by slightly higher growth in 2022.

Gross property tax levies approved by local jurisdictions in late 2022 increased 2.4% statewide. This was greater than the 2021 increase of 1.6% but still less than increases in 2019 and 2020. It also was far less than the 8% rate of inflation in 2022.

Because annual growth in property values exceeded the growth in levies, the statewide gross property tax rate declined 10%. It was the ninth consecutive year in which the state’s aggregate tax rate has declined, and the largest decline since 1996.

These are among the key statewide findings from the Forum’s newly updated 2023 Property Values and Taxes DataTool, which features data for all of Wisconsin’s 72 counties and 1,850 cities, villages, and towns. It is the latest in a series of Forum interactive tools meant to provide all Wisconsinites with relevant facts about their schools, local governments, and state and regional economy.

It uses state data on December 2022 property tax levies and tax rates adopted for 2023 budgets, as well as updated property values as of January 1, 2023 that will be used to calculate tax bills this coming December. It also includes findings on key property value and tax trends for southeast Wisconsin and Dane County.

For nearly a decade, one of our organization’s two predecessor organizations, the Public Policy Forum, produced an annual publication that analyzed key trends in property values and taxes in southeast Wisconsin. After merging with the Wisconsin Taxpayers Alliance in 2018, the Wisconsin Policy Forum, as we’re now known, expanded this publication and converted it into an online interactive that covers the entire state.

The Forum’s ongoing tracking and analysis of property values — an important indicator of the state’s economic health — is more relevant than ever today. In addition, understanding the connection between those values and property taxes is important for home and business owners, and shows how these trends affect the revenue picture for our local governments and school districts.

The Wisconsin Policy Forum is the state’s leading source of nonpartisan, independent research on state and local public policy. As a nonprofit, our research is supported by members including hundreds of corporations, nonprofits, local governments, school districts, and individuals. Visit wispolicyforum.org to learn more.