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Board Upholds $695,500 Valuation for New Home at 250 West Rusco Drive
Summary
After a lengthy exchange about construction costs, appraisal discrepancies and whether well and septic costs should be excluded, the Citizens Board of Review affirmed the assessor’s valuation for the new home at 250 West Rusco Drive, while noting the assessor could revisit any verified damage later.
The Citizens Board of Review affirmed the assessor’s valuation of the single-family property at 250 West Rusco Drive (parcel 11192530048), rejecting the property owner’s request for a reduction.
Owner Ryan Kirkpatrick presented documents including a written statement, assessment comparisons and a bank appraisal. He told the board the house was newly constructed in late 2022 and that construction cost overruns and site-specific features — notably well and septic installation and other site work — mean the improvement valuation should be lower. He told the board his construction contract was for $540,000 and testified later that the total construction cost came in at about $562,800, and he asked the board to set improvement value nearer $450,000.
Assistant Assessor Bill Meyer said the assessor’s office reviewed the parcel and concluded the cost approach was the most appropriate method for this one-year-old home. Meyer listed land and improvement valuations (land about $137,000; improvements about $558,500) and explained the assessor used the Wisconsin Property Assessment Manual’s three-tier methodology to derive a total assessed value of $695,500. He said the assessor’s office would consider a later partial adjustment if an inspection verified the owner’s reported water damage.
Board members weighed the owner’s construction-cost evidence against the assessor’s cost-based analysis and the absence of comparable sales as of the Jan. 1 lien date. The board moved to affirm the assessor’s valuation; roll-call votes were recorded with Jonathan Corbett, Justin Reichert, Adam Wolcott and Mary Ann Ratushik voting to sustain the assessment.
The board noted the owner may continue a dialogue with the assessor’s office, including open-book review opportunities, and that any amendment would follow stipulated procedures and be reflected in a written notice to the owner.
Parcel: 11192530048. Assessor’s conclusion: valuation sustained; office offered to inspect reported damage for potential later amendment.
