Village assessor presents market-update revaluation showing average 41% residential increase; board receives assessment roll

The Village of Waukesha's Board of Review received the municipal assessment report Sept. 17 after an assessor's market-update that used 2023 and 2024 sales to bring the village's assessments into compliance with state law. Sam Monroe, the village assessor, told the board the village's estimated level of assessment is 100% of market and that the update was required because the jurisdiction's level had fallen into the 60s and 70s in a recent ratio study. "The statistics I was reciting was the ratio study, and that was showing the, for the classes, the the level of assessment for the jurisdiction had fallen down to about 70% and was going to enter the sixties if there was not a market update," Monroe said. Monroe said staff analyzed valid sales, conducted exterior inspections and permit reviews, and updated agricultural land values to the Department of Revenue's use values. He told the board the assessor's office reviewed 175 property sales this year and validated 87 as comparable sales for residential ratio work; the residential ratio study aggregate ratio for 2025 was reported at about 69.45 on the sample of valid sales before adjustments. Monroe said the assessor's office made neighborhood-level adjustments, including substantial increases to vacant land rates, because vacant land assessments averaged roughly 50% of market in the village's analysis. As a result of those changes, Monroe told the board the average assessed increase for residential properties in the village was about 41% (some properties increased more, some less). Board and residents pressed Monroe for procedural clarifications about open book and objection deadlines; Monroe and the clerk outlined the process that property owners must file a notice of intent 48 hours before a board hearing or request a waiver for good cause. Board members confirmed they had posted open meeting notices and accepted the assessment roll and sworn statements from the assessor. The board did not adopt any village-wide tax-rate changes at the meeting; Monroe explained that the village's mill rate is set later in the year and that an increase in assessments alone does not automatically raise a homeowner's tax bill if the municipality's budget is unchanged. Monroe said, by way of example, that if assessed value increases across the village average 41% and the budget remains roughly the same, the mill rate should fall and tax bills for many owners could stay similar or shift slightly among taxpayers. The Board of Review proceeded from the report into scheduled individual objection hearings on assessments. The chair also confirmed that the assessor had filed the municipal assessment report and the assessment roll with the clerk and that open-book dates and mail notices for changed assessments had been mailed in August and revised postcards were distributed when meeting dates were corrected. The board did not take any additional villagewide policy actions at the meeting; it proceeded to consider individual waivers and appeals scheduled for the same evening.