UNDATED (WSAU-Wheeler News) For the first time since World War Two, Wisconsin’s total property values have dropped for five straight years – but officials say things might be looking up. The state’s Taxpayers Alliance said yesterday that the value of all property in the Badger State was $467.5-billion at the end of 2012. That’s down eight-tenths-of-a-percent from the previous year, as Wisconsinites continued to lose parts of their equity and net worth.
The report is based on state figures as of January first. Dale Knapp of the Tax Alliance says they don’t take this year’s double-digit increases in Wisconsin home sales into account – and we could finally see an increase in land values next year.
The Tax Alliance said the value of Wisconsin’s homes, businesses, farms, and forests hit a peak in 2008 of $514-billion – and they’ve gone down every year since then, for a total drop of $47-billion.
The state’s top industry, manufacturing, saw its total land values rise by 2.3-percent last year. Metro Milwaukee had larger-than-average declines, while western Wisconsin counties near Minneapolis-Saint Paul had increases.