Waukesha Board of Review upholds most assessments, lowers one multifamily value to $972,000

Waukesha — The Waukesha Board of Review met July 22 and heard more than a dozen property assessment appeals. After testimony from property owners and presentations from the city assessor, the board sustained the assessor’s valuations for most of the contested parcels but reduced the assessment for one multifamily property at 1917 Madera Street to a new total of $972,000.

The board opened the session with routine instructions that “the burden of proof is on you as the taxpayer” to show a different market value than the assessor’s roll. Property owners presented a mix of arguments during the hearing: income and expense statements, vacancy and tenant-mix data, and descriptions of deferred maintenance or water intrusion. The assessor’s office relied primarily on recent sales comparables and third‑party market data from CoStar to support the roll values.

Why this matters: Board of Review decisions determine this year’s assessed values, which feed the tax roll and can affect owners’ tax bills and financing options. The session highlighted two common threads in commercial and multifamily appeals: owners urged income-based valuation when vacancy or deferred maintenance is present, while the assessor emphasized that state law and local practice prioritize valid sales comparables where available.

Key outcomes

- 1917 Madera St., (12-unit multifamily): The board found the owner’s recent-sales evidence persuasive and concluded the assessor’s roll overstated value. The board lowered the assessment to a total of $972,000 (land…