Property Tax Bill: Looking Ahead
The revaluation of property assessments and school district referendum will impact your 2019 tax bill. Here's what to expect.
On your property tax bill for 2019, you will see a few changes we want to make sure you understand.
Property Taxes City-Wide Property Reassessment
In 2019, the City of Wauwatosa Assessor’s Office will complete a revaluation. This is a complete and thorough city-wide review of all property assessments. The Assessor’s Office will make value adjustments where necessary to guarantee that all property is assessed at market value. This ensures that taxes are distributed equitably.
This is a revaluation year, so property owners will receive a change of assessment letter in mid August 2019. All property owners will receive this letter, even if the property assessment hasn’t changed.
In non-revaluation years, you might receive a letter around April. In these years, you would only receive a letter if your property assessment changes.
You can review property information online and call the Wauwatosa Assessor's Office (414) 479-8969 with questions.
School District Referendum Tax Impact
Additionally, you will see a line item on your property tax bill highlighting the amount you are paying specifically for the School District’s facilities referendum approved in November of 2018. The approved referendum raises the school district’s portion of the mill rate by $1.87 over the current rate. As a result, Wauwatosa property owners will pay $187 more per $100,000 of property value on their 2019 property bills. Please know this is an estimate at this time.
However, future years are projected to be below that amount as the school district was able to reduce the tax impact to an estimated average annual cost of $1.48 per $1,000 of property value over the 20-year repayment term.
What projects is the referendum funding?
The $124.9 million referendum was approved by Wauwatosa voters in November of 2018. It will fund the new construction and renovation of four elementary schools and projects at all District schools in the areas of:
- Safety & Security Upgrades
- Building Maintenance & HVAC Systems Improvements
- Classroom Updates
- ADA Accessibility Upgrades
Tips to Prepare
- The referendum tax impact will first be noted on your December 2019 tax bill.
- With the changes to your tax bill, now is also a good time to make any necessary adjustments to your escrow account, if you utilize one for payments.