2013 Property Tax Bills
A freeze in the Total Property Taxes for City Purposes
(Click Here for this story from the December 2013 City Newsletter.)
The City of Franklin Froze Property Taxes for 2014…
so why did property taxes change?
It is absolutely true that the City froze property taxes for the 2014 Budget at the 2013 Budget level, but there are other factors that impact tax bills.
A primary factor impacting individual property tax bill amounts is the revaluation that occurred earlier this year. State law and the State’s Constitution require that property taxes be distributed equitably, and the method of doing that is to allocate property taxes based upon assessed value. Every property, therefore, pays its proportional share of the total property taxes based on its proportional share of the total City-wide assessed value.
Periodic property revaluations are required by state law to ensure fairness and equity in property taxation. The Wisconsin Department of Revenue’s “2013 Guide for Property Owners” indicates the following:
“When inequities happen, some property owners are paying more than their fair share of the property taxes and some are paying less. A complete reassessment or revaluation may be the only remedy…. only those properties that are not presently paying their fair share of the tax burden will pay more taxes after a revaluation. Properties presently paying more than their fair share will pay less.” [Page 21]
(Click here for a larger version of graph)
Other factors such as changes in property tax levies by the other taxing jurisdictions and changes in manufacturing property values are also reflected in those final results. The following table shows the percentage of residential properties impacted in different categories. For the City of Franklin tax levy, all the dollar amounts of tax increases exactly equaled the dollar amounts of tax decreases, and there was no net change in property tax collections.
|Impact on Property Tax Bill
||% of Properties
|Decrease of more than 7%
Decrease between 3% and 7%
Decrease between 1% and 3%
Between 1% Decrease and 1% Increase
Increase between 1% and 3%
Increase between 3% and 5%
Increase between 5% and 7%
Increase of more than 7%
|* Excludes properties with changes such as building permits
Click here for a more detailed discussion on this topic (which includes a larger version of the "Comparison of Change in Property Value to Change in Property Taxes" graph table).
Click here for a map showing, by parcel, the percentage change in total assessed value for residential properties between 2012 and the 2013 revaluation.