Statewide property values saw a second year of growth, but they continue to lag behind pre-recession levels.
A report from the Wisconsin Taxpayers Alliance shows property values rose by 2.4 percent for 2015, following last year’s increase of 2.6 percent. Researcher Dale Knapp noted values still remain below where they were when the Great Recession began. “The total value is about $491 billion. So, despite the increases of the last couple of years, we’re still below the 2008 market peak of about $514 billion,” Knapp said.
The rate of growth varied widely across the state, with some areas even seeing property values decline slightly. Beloit saw the biggest increase of the state’s 20 largest metro areas at 5.9 percent, followed by Eau Claire, Madison, and La Crosse. Milwaukee, the state’s largest city, saw overall values decline by six-tenths of a percent.