News Flash Home
The original item was published from 4/26/2023 1:46:03 PM to 4/26/2023 1:48:33 PM.

News Flash

Village Website NewsFlash

Posted on: April 26, 2023

[ARCHIVED] Village Property Revaluation

The Village is undertaking a Village-wide revaluation during 2023. Thiensville property owners will receive a New Notice of Assessment, they were mailed on 4/25/2023. It will include an updated assessment valuation, contact information for questions, and an explanation of the revaluation process. Please watch this video presentation and refer to our website for more information.

The Village has not conducted a revaluation since 2015. State law requires periodic revaluations to address property value changes. Over time, property values can change unequally. The purpose of a revaluation is not to collect more taxes, but to correct any inequities to differing types of property that can occur over time. The purpose is to distribute the tax burden equitably among the taxable properties. The Village is undertaking a Market Update Revaluation. This type of revaluation, conducted mostly in-house by the assessor’s office, analyzes recent sales in Thiensville and uses the information to determine new assessed values that reflect current market values. Market value is defined as “the most probable price at which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently, knowledgeable and assuming the price is not affected by undue stimulus.”

After receiving new assessment notices, Thiensville property owners will have an opportunity to discuss the newly assessed valuation with Village Assessor Les Ahrens or his staff if there is belief that the Assessor’s Office made an error or did not have sufficient information. This will take place at the Open Book meeting, which will occur in May and usually can be conducted by email or telephone. Residents then have an opportunity to appeal an assessment to the Village’s Board of Review in June.

Revaluation Info...
Facebook Twitter Email