MONROE - Property values have gone down in some Green County communities, but village clerks are cautioning residents that it doesn't mean tax bills will decrease.
The Village of Monticello saw an overall 11 percent drop; Albany, a 6 percent slip; and New Glarus, a 3 percent dip, in value of residential property.
"Some individuals think their taxes will go down, but that's not true," said Joel Dutenhoefer, Monticello village clerk.
A decrease in property values generally means an increase in the mil rate, the percentage rate that a governing body uses to raise the tax funds necessary to cover its budget, he said.
"The state will be looking at all sales to determine what the fair market value will be in parity with the equalized value," Dutenhoefer said.
In New Glarus, residential property values went down an average of about 3 percent, according to Village Clerk Lynne Erb.
All improved residential lots were adjusted, she said.
New Glarus' last total property assessment re-evaluation was in 2006. The village was at 98.8 percent of equalized values in 2009, after a drop to 96.9 percent in 2008.
Gardiner Appraisal Service, LLC, McFarland, is hired for the appraisals for Monticello and New Glarus. Erb said the appraisal company found doing a re-evaluation was in the best interest of the village.
Erb and Dutenhoefer noted weak home sales as the cause for the drop in values in their villages.
"Condos went down much more than other (property), in the 10 to 15 percent range," Erb said.
Albany and Belleville hire Associated Appraisals Consultants, Inc., based in Appleton, for their property value assessments.
"Condos in Madison are taking a hit," said Dean Peters, project manager at Associated Appraisal.
Associates Roxanne Holda and Ryan Anderson manage the Albany and Belleville assessments.
Holda said Albany's 6 percent decrease in property values is based on two sales of single-family homes in 2009.
Belleville, located in Green and Dane counties, is under 100 percent of equalized value, according to Anderson. But, based on 49 sales, assessment values haven't changed.
"Some (homes) went up by 15 to 20 percent and others went down 15 to 20 percent, so they wash each other out," he said.
The City of Monroe assessments have not changed, according to city assessor Barb Berget. Assessment values in Brodhead were not available.
Assessing companies are generally hired to establish the fair market value of all taxable property in the municipality and for conducting the revaluation and annual maintenance of property values within the municipality.
The Village of Monticello saw an overall 11 percent drop; Albany, a 6 percent slip; and New Glarus, a 3 percent dip, in value of residential property.
"Some individuals think their taxes will go down, but that's not true," said Joel Dutenhoefer, Monticello village clerk.
A decrease in property values generally means an increase in the mil rate, the percentage rate that a governing body uses to raise the tax funds necessary to cover its budget, he said.
"The state will be looking at all sales to determine what the fair market value will be in parity with the equalized value," Dutenhoefer said.
In New Glarus, residential property values went down an average of about 3 percent, according to Village Clerk Lynne Erb.
All improved residential lots were adjusted, she said.
New Glarus' last total property assessment re-evaluation was in 2006. The village was at 98.8 percent of equalized values in 2009, after a drop to 96.9 percent in 2008.
Gardiner Appraisal Service, LLC, McFarland, is hired for the appraisals for Monticello and New Glarus. Erb said the appraisal company found doing a re-evaluation was in the best interest of the village.
Erb and Dutenhoefer noted weak home sales as the cause for the drop in values in their villages.
"Condos went down much more than other (property), in the 10 to 15 percent range," Erb said.
Albany and Belleville hire Associated Appraisals Consultants, Inc., based in Appleton, for their property value assessments.
"Condos in Madison are taking a hit," said Dean Peters, project manager at Associated Appraisal.
Associates Roxanne Holda and Ryan Anderson manage the Albany and Belleville assessments.
Holda said Albany's 6 percent decrease in property values is based on two sales of single-family homes in 2009.
Belleville, located in Green and Dane counties, is under 100 percent of equalized value, according to Anderson. But, based on 49 sales, assessment values haven't changed.
"Some (homes) went up by 15 to 20 percent and others went down 15 to 20 percent, so they wash each other out," he said.
The City of Monroe assessments have not changed, according to city assessor Barb Berget. Assessment values in Brodhead were not available.
Assessing companies are generally hired to establish the fair market value of all taxable property in the municipality and for conducting the revaluation and annual maintenance of property values within the municipality.