The real estate market is not stagnant, it is active and vibrant containing many forces that influence and affect property values. Because these forces interact differently throughout the City, it is necessary to analyze and examine the market continuously to keep values current. Sales of property are the basis of the assessment system. It is sales that assessors use to measure the trends and factors that influence value and ultimately determine new assessed values.
State law requires frequent revaluations to ensure assessments keep pace with changes in the market.
In Milwaukee revaluations are conducted every two years to meet this requirement. This is the largest increase in assessed value in over a decade. It reflects confidence in the City s housing market and in people s belief that Milwaukee is an excellent place to live. Growth was strong in all aldermanic districts reflecting a positive outlook that extends to all areas of the City. Nationwide Milwaukee is known for its affordable housing and as a comfortable and safe place to live.