The Wisconsin Department of Revenue says the state’s equalized property value has jumped to 982-point-8 billion dollars. That’s an eight percent increase over last year. State officials say the rise adds up to about 75 billion dollars in new value. Most of it comes from higher residential and commercial prices, along with 15 billion dollars in new construction. Florence County saw the biggest increase at nearly 18 percent, with Iron and Rusk Counties close behind at more than 17 percent each. Equalized values are recalculated every year to keep property taxes fair across school districts and municipalities. But the department says a higher equalized value doesn’t always mean you’ll pay more in property taxes.
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