Oshkosh council adopts five-year revaluation policy to reduce future "sticker shock" for property owners

The Oshkosh Common Council voted 7-0 Tuesday to approve Resolution 25-303, a policy that sets a standard of revaluing city property assessments every five years while allowing staff discretion for interim reviews when market conditions warrant.

Council members said the policy is intended to reduce sharp increases in assessed values that can occur when revaluations lag market changes. Council member Nichols said the city completed a revaluation in 2024 to meet state requirements and will do another in 2025. "Residents can expect we will be revaluing our properties every 5 years," Nichols said during council discussion.

The resolution gives staff flexibility to determine whether a full revaluation is needed based on market conditions and specifies that the general fund will cover the cost of revaluations when funds are available. Council members said that approach was designed to remove political pressure from the revaluation timetable while providing clearer expectations for property owners.

Council member Flom, who serves on the Long Range Finance Committee, said the committee and staff produced "a very thoughtful" draft that balanced flexibility, cost clarity and predictability for residents. Council remarks noted the city had not completed a revaluation since 2017 before the 2024 work, which contributed to larger changes in assessed values once updated.

The council discussion included praise for the committee and staff work and closed with a roll-call approval. No amendments were recorded during the meeting, and the resolution passed on the council floor without further public comment recorded on this item.

The adopted policy directs staff to implement the five-year review timetable and to report back as necessary on timing and costs; appeals procedures for property owners remain as described in existing assessment appeal processes.