WAUSAU, WI (WAOW TV-WSAU) — Whether you own commercial or residential, it’s likely your property value went up this past year. Those numbers were up 14% this year, according to findings by the Wisconsin Policy Forum.
In our area, many counties saw increases just below that number, such as Marathon County seeing an 11.7% increase and Portage County’s increase at 12.4%. Oneida and Vilas Counties were higher, at 15.9% and 17.4%, respectively.
Property tax rates, however, are continuing to fall, with this year’s tax levy increase of 1.6% less than half of the previous year, continuing an ongoing trend.
If you are not a property owner and rent instead, you might be seeing a few changes coming your way, if you haven’t already.
“If you are somebody who rents your apartment or home, this could mean that your rent went up, so people are seeing different impacts from these trends,” said Mark Sommerhauser, a policy researcher for WPF.
Residential property values went up by nearly 15% statewide and 14% in Marathon County.
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