The Wisconsin Department of Revenue (DOR) released its annual Equalized Values Report. The report shows that Wisconsin’s total statewide equalized property value as of Jan. 1 was $907 billion, an increase of $75 billion, or 8%, from 2023. Growth occurred in all property classes and was led by residential and commercial property. Equalized values are based on data from Jan. 1–Dec. 31, 2023.
The total equalized values by property class, followed by the equalized value changes in 2024, include:
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Residential — $667,268,554,300 ($53,380,635,600 or 9%);
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Commercial — $180,356,585,700 ($16,612,473,200 or 10%);
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Manufacturing — $21,414,344,000 ($1,419,377,300 or 7%);
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Agricultural* — $3,117,330,400 ($315,789,200 or 11%);
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Undeveloped — $2,599,911,600 ($211,699,200 or 9%);
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Ag forest — $4,523,950,500 ($507,735,900 or 13%);
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Forest — $10,040,225,900 ($1,011,297,200 or 11%);
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Other — $18,093,814,600 ($2,224,532,400 or 14%)
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Total real estate — $907,414,717,000 ($75,683,540,000 or 9%);
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Total personal property** — $0 ($-10,922,476,000 or -100%); and
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Total equalized value $907,414,717,000 ($64,761,064,000 or 8%).
*Agricultural land value changes do not represent changes in market value; agricultural land values are based on the income that could be generated from its rental for agricultural use.
**Act 12 exempted personal property valuation for 2024.
