EAU CLAIRE, Wis. (WEAU) -- A new report shows the overall assessed value of properties in the City of Eau Claire increased by about 1%.
The 2013 Assessment report is scheduled for release on Friday. The report shows an overall assessed value increase of $35,600,000. The assessed value of residential properties in the city is down by $13,600,000, and commercial property values are up by $38,900,000.
Friday is also the day the city will mail assessment notices to property owners. They include the new assessed value of the property, and information about the process and appeals.
EAU CLAIRE, Wis. (CITY OF EAU CLAIRE NEWS RELEASE) --Assessment notices will be mailed to property owners in the City of Eau Claire on Friday, October 11, 2013. Since this is a revaluation year, all taxable property owners will receive a notice of assessment. The notice will include the new assessed value, informal hearing dates, Board of Review date, and general information about the assessment and appeal process.
The overall assessed value increased by $35.6 million or approximately one percent. Residential property assessed values decreased by $13.6 million, commercial property values increased by $38.9 million, personal property values increased by $10.5 million, and manufacturing property values decreased by about $257,000. Additional information will be available in the 2013 Assessment Report, scheduled for release on October 11.
Increases or decreases in assessments do not mean higher or lower tax bills. Those properties with an assessment increase that is equal to or less than the overall percentage change in assessed value will not pay higher taxes because of the revaluation. Properties with an assessment increase that is greater than 1% will pay a proportionately greater share of the tax burden. Those properties with an increase of less than 1% will pay a lesser share of the tax burden. Since the overall tax rate is determined by the budget needs of the school district, city, county, state, and technical college, taxes may be higher this year, even with a lower assessed value.
Assessors will be available to discuss property valuations during the informal (Open Book) hearings at City Hall, 203 S. Farwell Street. Property owners are encouraged to call 715- 839-4926 with questions or to make an appointment to review their assessment information. Office hours for the Open Book Hearings are:
October 14 through October 16 8:00 a.m. to 6:00 p.m.
October 17 through October 18 8:00 a.m. to 5:00 p.m.
October 21 8:00 a.m. to 5:00 p.m.
The Board of Review will meet on October 28, 2013 at 8:00 a.m. in the Council Chambers. Property owners who do not agree with their assessment must notify the City Clerk of their intention to appeal at least 48 hours before the Board's first meeting.
For additional information contact:
Allen P. Andreo