Assessment Property Classes
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RESIDENTIAL PROPERTY
The residential class of property includes all property where the predominant use is for living purposes. It also includes vacant land where the most likely use would be residential development. Apartment buildings of four or more units, hotels, motels, and resorts are classified as commercial property. The residential class represents 72% of the total assessed value of the city.
COMMERCIAL PROPERTY
The commercial class consists of properties where the predominant use is the selling of merchandise or a service. Apartment buildings of four or more units and office buildings are included in this class. This class also includes vacant land where the most likely use would be for commercial purposes. Commercial property represents 21% of the total assessed value of the city.
MANUFACTURING PROPERTY
Manufacturing property consists of all property used for manufacturing, assembling, processing, fabricating, making or milling tangible personal property for profit. It also includes establishments engaged in assembling component parts of manufactured products. All manufacturing property is assessed by the Wisconsin Department of Revenue. Manufacturing real property represents 4% of the total assessed value of the city.
PERSONAL PROPERTY
Starting with the January 1, 2024 assessment, exempt personal property will not have a 2024 assessment or receive a 2024 property tax bill. 2023 Wisconsin Act 12 – Personal Property Exemption
