News Flash


Posted on: March 16, 2023

City-Wide Property Revaluation

Stevens Point is working to complete a city-wide revaluation for the 2023 assessment year & is mandated by the State to complete this revaluation. Our goal is to conduct an accurate & transparent revaluation, which will affect all properties in the city.

In order for the City to best revalue properties within the community, we ask for your cooperation throughout the process. Below is a list of Frequently Asked Questions about the Revaluation. If you have any additional questions, please contact the City Assessor’s office at 715-346-1553 Ext. 2, or at

Revaluation FAQs

1. What is a revaluation?

A revaluation is a process by which the assessors review each property record in the city and assign it a new value (they revalue each property) based upon a variety of factors. There are different types of revaluations, but the goal of all revaluations is the same: produce a more accurate and equitable value than was in place previously on a given property and city-wide. This means that assessments should reflect market sale prices and properties with comparable amenities should be assessed similarly. 

For example, if the assessed value on a property is $150,000, we would expect the property to sell for about $150,000. In other words, the assessed value should be 100% of market value. Foreclosure sales, sales between related parties, and any other sale that is concluded under duress are not considered reflective of market value.

To be at 100% for every property annually is an ideal situation and not entirely realistic. The Wisconsin Department of Revenue (DOR) recognizes that and allows a cushion of +/- 10% (i.e., between 90% - 110% of estimated market value) to remain in compliance with the law. This allows for both market fluctuations and the human element of a sale.

From our previous example, if a home sells for $150,000, that means the assessed value should be between $135,000-$165,000.

2. Why is the City undergoing this revaluation process?

Wisconsin Department of Revenue statutes require municipalities to be within 10% of market value (between 90% - 110%) to be considered “in compliance.” The City of Stevens Point’s overall ratio was 76.83% in 2022, therefore the City is out of compliance. The last city-wide revaluation was done in 2017.

3. Who is performing the revaluation?

The revaluation is a collaborative effort by both Assessor’s Office staff and Forward Appraisal LLC, a professionally licensed appraisal company. Forward Appraisal has worked with City office staff since 2015, and a portion of this revaluation process is an extension of their annual tasks, just as a portion of it is an extension of the annual tasks for the City employees.

4. How does the revaluation work?

There are different types of revaluations that can be undertaken: market update, drive-by revaluation, exterior revaluation, and full revaluation. In this case, the city will be undergoing a combination of a market update and drive-by revaluation. 

Appraisers will be going through each property’s record card to confirm that information we have on file is accurate via electronic and remote means (e.g., satellite/GIS imagery, Google Maps, etc.). Then we will perform sales studies, neighborhood studies, income/expense studies (for income-producing properties), and other necessary studies to assist in creating new models. Using these models, we will adjust valuation tables as necessary to better reflect market conditions.  We will then field verify a percentage of the values before sending out the final assessment notices.

5. How are City taxes calculated?

Tax rates are built using two numbers: total City valuation and total City budget. The tax rate then gets applied to each individual property’s valuation to determine what amount of taxes each property is responsible for. Given that the budget is put in place after the values are set, there is no way to determine exact tax rates or amounts during the revaluation.

6. How is this going to change my property’s taxes?

Some property owners may see a decrease in both value and taxes owed, some may see an increase in both value and taxes owed, and some may see an increase or decrease in value and the opposite in taxes owed. A property’s value going up does not alone cause a higher tax amount owed.

We can use sample numbers to illustrate this concept. 

Total Budget = $20,000,000

City Valuation Total = $1,000,000,000 

Tax Rate (Mill Rate): $20,000,000 $1,000,000,000 = $.0200 (or $20.00 per thousand)

A home valued at $150,000, the taxes owed would be $3,000.

Now, let us suppose the sample underwent a revaluation. 

Total Budget = $20,000,000   *Not affected by revaluation

City Valuation Total = $1,100,000,000

Tax Rate (Mill Rate): $20,000,000 $1,100,000,000 = $.0182 (or $18.20 per thousand)

A home valued $150,000, the taxes owed would be $2,730.

It is important to remember though, that during a revaluation all property values are adjusted closer to market value.  If the home were reassessed from $150,000 to $165,000, the taxes owed would be $3,003 (similar to the taxes owed prior to the revaluation).

Please note that the Assessor’s Office is strictly tasked with attaining accuracy in valuation. This is true both of revaluation years and non-revaluation (“maintenance”) years. Technically, taxes and budget are outside the scope of the Assessor’s Office. Please also understand that the total tax rate includes other taxing entities such as the Stevens Point Schools, Technical College, and Portage County.

7. Do I personally need to do anything for my property to get revalued? Does this mean somebody needs to go through my house?

Most of the work will be done in office and through drive-by review. An exception to that would be inspections for new permits, sales, and rechecks for work from prior years, but those will be worked separately.

If you wish for the Assessor to review your home for a full and accurate revalue, please contact our office directly to schedule an appointment. Most appointments take less than 30 minutes and can be done to fit within your schedule. 

8. I just put up a new garage (or updated my kitchen, or tore down a shed, etc.). Do the assessors know that?

It never hurts to bring any changes to the attention of the Assessor’s Office. If the changes were done without permits, then that’s information that the Assessor’s Office might not have. Any changes that would have been completed with a permit will be inspected independently of the revaluation process.

9. Where can I see my property information?

All property data is available on the City of Stevens Point’s website under the “Property Search” link.  We encourage property owners to look at and verify their property information and bring to our attention any discrepancies they find.  

10. When will notices of new assessments be mailed?

Notices of changed assessments are scheduled to be mailed to property owners after values are reviewed this summer. 

11. What is “Open book?”

Open book is a set period of time for property owners to contact our office with questions regarding their new values. After notices are mailed, property owners with questions are encouraged to contact our office via phone or email. If a property owner wishes to meet with an appraiser in person, an appointment will be set up to discuss their property.

12. What if I still disagree with my value after my Open Book appointment?

A property owner who still disagrees with the assessed value has the right to appear before the Board of Review. This board acts like a court by taking oral testimony from the property owner and the Assessor’s office. The board then makes decisions based upon the evidence presented. The Assessor’s value is presumed correct unless compelling contrary evidence is presented. Information on board of review and how to object to your valuation will be referenced on each notice of assessment and is available on the Department of Revenue’s website.

13. What information can I use to contest my value if I disagree with it?

The best indicator of market value is a recent sale of the subject property. This would be a sale on the open market between a willing buyer and seller under no duress to sell or any compulsion to buy.  Additional relevant information can include similar homes nearby with lower assessments, a recent market value appraisal, and construction costs if recently built.

14. What information cannot be used to contest my value if I disagree with it?

Concerns specific to the taxes, rather than the assessed value, will not be reviewed. Our job is to determine an assessed value that closely represents market value. We do not determine, set, or collect taxes. Assessed values in other communities will not be considered as they do not represent the market value within our city.

15. Who can I contact with further questions?

You can call 715-346-1553 Ext. 2, email, mail, or simply visit the Assessor’s Office. We would prefer a call or email as first contact. All inquiries must be responded to within ten days by state statute, but we typically try to respond within 48 hours.

Questions specific to the revaluation can be directed to

More Property Assessment Information
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