2008 VILLAGE REASSESSMENT
In 2008, all real and personal property within the Village of Kimberly will be reassessed with the assistance of Accurate Appraisal LLC. The Wisconsin Department of Revenue has ordered this reassessment, and it is being conducted in accordance with the standards they developed.
This reassessment program has but one aim: to equalize the tax base for all real and personal property on the basis of fair market value as of January 1, 2008. The aim is not to raise your tax bill but rather to be sure each property owner pays his/her fair share using the facts obtained during this reassessment.
All property owners and tenants are urged to cooperate with the authorized field appraisers by allowing them to enter your property to make the required interior inspections.
This section is designed to answer some of the questions you may have prior to and during the assessment process. You, as a taxpayer, are entitled to know the facts about reassessment and how it is expected to affect you or your tenants.
The following list of questions are the most common raised during a reassessment, and they help to explain the process, its necessity, and the end result of a community-wide revaluation.
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What does "reassessment" really mean?
It means that the Village of Kimberly will make a present day, full market assessment of your property. In other words, if your property would sell for $100,000 at the present time, this amount would approximate your new assessment.
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Why is this reassessment necessary?
Whenever the Fair Market Value of all property in the Village of Kimberly falls below 90%, the Wisconsin Department of Revenue allows the community three years to conduct a reassessment to bring the values back near 100%. The Village of Kimberly was below 90% for the past several years and is presently at about 80% of full market value.
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Will this reassessment automatically increase my taxes?
Not necessarily. Only the property owners who are not presently paying their fair share of the tax burden will pay more taxes. Property owners paying more than their full share of taxes at this time will pay less.
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How can I determine if my present assessment is above or below the average?
You must first determine the full value reflected by your present assessment. This is done by dividing your present assessment by .8022. An assessed value of $80,000 divided by .8022 results in a full value of $99,730. Now you will have to decide if this value accurately reflects the market value of your property.
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If the new assessments are made at full value, won't this raise my taxes?
No, this will not raise the total amount of taxes levied on property in the Village of Kimberly. With the total of all of the assessments in the Village of Kimberly increasing, the tax rate will be reduced by the same percentage to generate the same tax dollars.
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What process is being used to arrive at a fair assessment?
The reassessment program is based on the sales approach. The value of properties in the community is compared to actual sales prices, supplied to the Village of Kimberly by the Wisconsin Department of Revenue. These are actual property sales, and they are then compared to the assessed value of like properties using a computer model.
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Will my home or apartment be inspected?
Very definitely. Every building in the Village will be measured and will receive a complete interior and exterior inspection. If you are a tenant, it is highly recommended that you contact your landlord and make them aware of this inspection. All of the data about your home will be compiled on a property record card and entered into the Assessor's computer.
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At our house, we both work. How will they contact me to do an inspection?
The appraiser will leave a card indicating the inspection of the exterior of your property (i.e. outside measurements, visual inspection, neighborhood data, etc.). You will be asked to call Accurate Appraisal LLC to arrange for an interior inspection at your convenience. If you are renting, you may want to contact your landlord to allow entrance in your absence.
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Will I be asked any questions?
Yes, you will be asked several questions regarding your property and the improvements you have made. You may also be asked other questions which will enable the appraiser to make a fair analysis of your property. As a tenant, you may want to defer these questions to your landlord.
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Will the person that comes to my door be able to tell me what my assessment will be?
No, the field representative gathers data only. The actual assessment will be calculated at a later date.
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What if I refuse to let this person enter my home?
This refusal will be noted on the record card, and the property will be appraised from the exterior only. Certain assumptions, which may or may not be accurate, will be made about the property.
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Will I have the right to appeal this assessment?
NO! State Statute 70.47(aa) states that if you refuse the appraiser access to inspect the interior of the property, you cannot contest the results of the assessment before the Board of Review.
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How soon after the field inspection will I know what my new assessment will be?
You will be notified by mail as soon as the figures are available.
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Will I have a chance to discuss this new assessment with someone if I feel that it is too high and will I be able to discuss my property with someone in private??
Yes, on the same notice you receive informing you of your new assessment, a date and time will be indicated when you will be able to appear at an informal hearing to discuss whatever questions you may have in regard to your property. Yes, all conferences will be in private.
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Will I be able to compare my property with similar types?
Yes, we encourage this comparison. It is one of the basic criteria we use to arrive at the fair assessments. The assessment role of the Village of Kimberly is always open for inspection.
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What if, after this informal review, I am still dissatisfied with my assessment?
The formal Board of Review will be held shortly after these interviews. After filing a written petition of objection, you can appear before the Board of Review, give testimony, and have the Board of Review decide whether or not your assessment is fair. After that if you are still not satisfied, you can then appeal the decision to the Circuit Court.
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When will this new assessment go into effect?
The new assessments are effective January 1, 2008.
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When will we be billed on the basis of the new assessment?
The tax bill you receive in December 2008 will be based on the new assessment.
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What will happen if I decide to build a new home while the reassessment is in process?
Nothing out of the ordinary will happen as your new home will be appraised as of January 1, 2008. If the new home is started after January 1, 2008, it will not be assessed until January 1, 2009. If it is partially complete on January 1, 2008, it will receive a partial assessment as of that date.
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What if I wish to obtain additional information regarding the reassessment?
Every effort will be made during this reassessment to fully acquaint you with its workings. We feel that its success will depend greatly on your complete understanding of why it is being done. Should you desire further information or would like any of the foregoing questions explained in more detail, the Village Assessor will make himself available within reason to discuss the issues with you.
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