Wisconsin’s Real Estate Market Grew by 8%
The Wisconsin Department of Revenue (DOR) released its annual Equalized Values Report. The report shows Wisconsin’s total statewide equalized property value as of January 1, 2025, was $982.8 billion, an
8% increase over the prior year. Growth occurred in all property classes and was led by value changes in residential and commercial property. Equalized values are based on data from January 1, 2024, to December 31, 2024.
Report highlights:
· Change in equalized value = $75 billion, an 8% increase from 2024
o $60.5 billion due to market value increases (7%)
o $15.2 billion due to new construction (2%)
· Florence County saw the largest increase at 17.84% followed by Iron and Rusk at 17.77% and 17.40%, respectively
| 2025 Equalized Value Changes by Property Class | |||
| Classification | Total 2025 Equalized Value | Total Value Change | Percent Change |
| Residential | $724,365,215,900 | $57,096,661,600 | 9% |
| Commercial | $193,358,385,700 | $13,001,800,000 | 7% |
| Manufacturing | $22,771,575,800 | $1,357,231,800 | 6% |
| Agricultural* | $3,300,591,600 | $183,319,500 | 6% |
| Undeveloped | $2,844,754,000 | $244,846,100 | 9% |
| Ag forest | $5,076,360,100 | $552,409,600 | 12% |
| Forest | $11,122,519,800 | $1,082,293,900 | 11% |
| Other | $19,978,410,500 | $1,884,595,900 | 10% |
| Total real estate | $982,817,813,400 | $75,403,158,400 | 8% |
| Total Equalized Value | $982,817,813,400 | $75,403,158,400 | 8% |
* Agricultural land value changes do not represent changes in market value; agricultural land values are based on the income that could be generated from its rental for agricultural use
Equalized values are calculated annually and used to ensure statewide fairness and equity in property tax distribution. The equalized value represents an estimate of a taxation district’s total taxable value and provides for the fair apportionment of school district and county levies to each municipality. Changes in equalized value do not necessarily translate into a change in property taxes.
More information:
· Posted Equalized Value Reports
For background information on equalized values, review Wisconsin’s Equalized Values, and for additional information on property taxes, see Guide for Property Owners.
