What is a revaluation?

A revaluation is the determination of new values within a municipality for taxation purposes.  A revaluation can vary in authority, frequency, form and the conditions under which it is performed. Therefore section 70.05(5) Wis.Stats., requires each municipality to assess property within ten percent of full value at least once every five years.  A revaluation can also be done annually or periodically as deemed necessary to best serve the public interest.

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1. What is an assessment and what is its purpose?
2. What is a revaluation?
3. Revaluations are expensive. Are they really necessary?
4. Do taxes go up after revaluation?
5. What is the Open Book?
6. What is the Board of Review?