The Board of Review is meeting 06/05/2024 at 9AM.
During this meeting the board will review objections by property owners to their property assessments. People who wish to contest their property valuation need to provide written oral notice at least 48 hours in advance.
Right now there is only objection on the agenda for a property on Barker Lane.
It’s currently assessed at $698,500. The owner would like that reduced to $513,900 which would be a 12% increase from it’s assessed value in 2019 when an appraiser determined it was worth $458,900. His home has essentially increased in value by over 50% in 5 years.
On the objection form, the property owner states that the basis for their opinion of the assessed value is: “Increase of 12% from 2022. Previous assessor was not incompetent.” [I’m a little confused by that because elsewhere they state the appraisal happened in 2019, not 2022.]
The homeowner goes on to state that the median price of a home in Wisconsin is 4 times the gross median household income and that income has not kept pace with the escalation of home prices. He is concerned that 27% of all single-family homes are now owned by private equity firms and that the family dream of owning a home is “being stolen by Wall Street, the assessment process, and the age-old economic behaviors of ‘Rent Seeking’.”
View full meeting details here: https://cityofappleton.legistar.com/MeetingDetail.aspx?ID=1201689&GUID=FFF6E47F-7B5F-48C8-ABE7-D5A913D15015
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