Following a five-year decline, the current market value of all taxable property in Wisconsin rose for the second consecutive year, rising 2.4 percent in 2015. However, at $490 billion, values remain almost $25 billion below the 2008 market peak, according to a soon-to-be-released report from the Wisconsin Taxpayers Alliance.
While southern Wisconsin appears to be recovering, Alliance spokesperson Dale Knapp says northern Wisconsin values are lagging. He thinks the demographics in the Northwoods are playing a part in the lower property values..
"......we've got the Baby Boom retiring in the north and there's not the younger families that there are down here so demand for property in the north is not as strong as other parts of the state...."
He says younger families wanting housing tend to drive prices upward, and with an aging demographic in the Northwoods, that is slowing the growth of property values.
More information on the report is on the WISTAX websiteat wistax.org
