Filed under the category of "good news, bad news" was last week's report from the Department of Revenue on Wisconsin property values.
The bad news? Property values in the state increased by only 3.31 percent this year, the smallest jump since 1987. Home values also increased by the smallest amount in 21 years - 1 percent.
The good news? At least home values increased in Wisconsin. There are many other places in the country that have seen home values collapse by double-digit percentages in the past year. Mike Theo, a vice president of the Wisconsin Realtors Association, told the Associated Press that the 1 percent gain in existing home values shows stability in the state market.
More good news? Lafayette County saw the largest increase in property values in the past year - up a whopping 14.3 percent. The value of undeveloped land in Lafayette County jumped by 37 percent, according to the Department of Revenue. Commercial property values increased by 22 percent and residential property values were up by 12 percent.
The so-so news? Green County saw an overall property value increase of 3.36 percent, just about at the state average but ranking only 49th among Wisconsin's 72 counties. There was no increase in commercial property values, according to the Department of Revenue. But residential properties increased in value by 3 percent.
Property values in the City of Monroe were up only 2 percent, with no increase in commercial values and a 2 percent jump in residential properties.
If you visit www.revenue.wi.gov, you can access seemingly endless property value information about all of Wisconsin's counties, cities, towns and villages. It's a pretty comprehensive site, if you're interested in these sorts of numbers.
While the market statewide and locally at least appears more steady than the national picture, the numbers don't bode well for the budgets of municipalities and school districts, which already are working under revenue increase limits while the costs of health care and energy soar.
But the relatively small jump in property values can be a blessing of sorts for homeowners. In many instances, the less the value of property increases, the less in property taxes that must be paid.
Indeed, there is a mix of good news and bad news in the Department of Revenue's report. It all depends on your perspective.
The bad news? Property values in the state increased by only 3.31 percent this year, the smallest jump since 1987. Home values also increased by the smallest amount in 21 years - 1 percent.
The good news? At least home values increased in Wisconsin. There are many other places in the country that have seen home values collapse by double-digit percentages in the past year. Mike Theo, a vice president of the Wisconsin Realtors Association, told the Associated Press that the 1 percent gain in existing home values shows stability in the state market.
More good news? Lafayette County saw the largest increase in property values in the past year - up a whopping 14.3 percent. The value of undeveloped land in Lafayette County jumped by 37 percent, according to the Department of Revenue. Commercial property values increased by 22 percent and residential property values were up by 12 percent.
The so-so news? Green County saw an overall property value increase of 3.36 percent, just about at the state average but ranking only 49th among Wisconsin's 72 counties. There was no increase in commercial property values, according to the Department of Revenue. But residential properties increased in value by 3 percent.
Property values in the City of Monroe were up only 2 percent, with no increase in commercial values and a 2 percent jump in residential properties.
If you visit www.revenue.wi.gov, you can access seemingly endless property value information about all of Wisconsin's counties, cities, towns and villages. It's a pretty comprehensive site, if you're interested in these sorts of numbers.
While the market statewide and locally at least appears more steady than the national picture, the numbers don't bode well for the budgets of municipalities and school districts, which already are working under revenue increase limits while the costs of health care and energy soar.
But the relatively small jump in property values can be a blessing of sorts for homeowners. In many instances, the less the value of property increases, the less in property taxes that must be paid.
Indeed, there is a mix of good news and bad news in the Department of Revenue's report. It all depends on your perspective.
