Waukesha Board of Review Upholds Assessor's Valuation on Multiple Properties

The City of Waukesha's Board of Review convened on July 22, 2025, to address significant property valuation concerns, particularly regarding multi-family buildings. A key discussion point centered on the valuation of certain properties, which had been adjusted to $153,369 per unit during the open book period. Board members scrutinized the rationale behind this figure, questioning whether the properties in question were comparable enough to justify uniform pricing.

One board member expressed uncertainty about the original analysis and the absence of open book notes, which complicated the discussion. Despite this, the consensus emerged that the properties under appeal, including the Shepherd building, should have their valuations adjusted downward to align with the Longview building, which had a lower per-unit valuation. This adjustment was deemed necessary for consistency across similar properties.

The board faced challenges in relying on assessed values from other properties as evidence for adjustments, emphasizing that assessed values do not equate to market value. Ultimately, the board voted to uphold the assessor's valuation, citing that the evidence presented conformed to statutory requirements and that the property owner did not provide sufficient evidence to contest the assessment.

The decision means that the current assessed values will remain unchanged, although property owners were informed of their right to appeal. This meeting highlighted the complexities of property valuation and the importance of thorough evidence in the assessment process, ensuring that all stakeholders understand the rationale behind property valuations in Waukesha.