Property Values in County Decline, Mirroring Trend in Southeastern WI
Public Policy Forum report shows 5% decline in values across the county and throughout the region
A report from the Public Policy Forum revealed data that perhaps many home owners, and those looking to sell their homes, realized all too well: homes just aren't worth what they used to be.
The report showed a 5 percent decline in property values across the region (what municipalities base taxes on), which the group said was due to the decline in real estate values (what buyers are willing to pay for homes).
In Waukesha County the change equaled nearly $2.4 billion in lost value from 2009-10, second in Southeastern Wisconsin to Milwaukee County, which saw losses of $3.6 billion. The decline equals about 4.2 percent, slightly under the total for the region.
In addition, the rate of growth of new construction for Waukesha County continued a trend of decline, with a less than one percent increase in new construction recorded from 2009-10. Only Kenosha County recorded over one percent in that same time period.
Commercial properties also saw decreases in values, and according to the report, "every county in southeast Wisconsin had a decrease in commercial values from 2009 to 2010. This is the first time any county in southeast Wisconsin has had a decrease in commercial value."
Bernard Forand
11:20 am on Sunday, August 14, 2011
Where in as “Right’s” obstructions, defiance is well demonstrated. Ex; You find yourself in a household. Financials with Insufficient funds to cover all debts. Household, must decide, one, cut expenditures’ or to raise revenues. Some say we just cut spending. Unfortunately, if all spending was cut the remaining funds will not pay for the debt. Results ; Food depletion, health, education, no gas to go to work, no vehicle {Reposed}, and no jobs. Employer is in the same boat. Household is not consuming his products. Close down shop. Cutting spending alone is another step backwards for your economy.
Raise revenue/cut spending say 50-50 you have something . Obama is passing a bill with cuts only no revenue! He has capitulated to republicans for preventing the man made calamity of the Tea party. LOL Ironic! Tea cuts spending, to save money, will serve to raise cost on the deferred revenue increase through increased interest payments and or degree of poverty misery index.
Walker is exemplifying Tea ideology. As the world of financial investors have communicated, to Obama, Bill on spending cuts only, is inefficient. Lack of revenue to the equation produces a summarization of failure.
Once an organism demonstrates lack of accumulation for expenditure is a declaration of termination!
Craig
3:52 pm on Sunday, August 14, 2011
Not sure why you would make that comment under this article. I find it hard to follow what your message was.
Homes are assessed at 20% over their value, therefore the taxes are 20% inflated.
Randy1949
11:27 am on Sunday, August 14, 2011
So . . . what happens after the next reassessment? Does my property tax bill go down by the proportion of the loss of fair market value, just as it doubled in 2005 for the same reason? The BRB supposedly froze the levies. Or did it?
Nancy H
5:11 pm on Sunday, August 14, 2011
Our homes will not be what they WERE worth again until 2025 according to Suze Orman. I fine this all extremely sad!
Patrick J Mulqueen
8:57 pm on Sunday, August 14, 2011
Looks like the race to the bottom is getting underway.
Lets just keep sending our money to China and don't pay for needless wars.
We will now be reaping what we sowed.
Patrick