THE CITY REBORN FROM THE ASHES OF AMERICA'S MOST DISASTROUS FOREST FIRE
City Board of Review Adjourned to July 23
Issue Date: June 3, 2020
The City of Peshtigo Board of Review met on Tuesday, June 2 to elect officers and hear a report from Assessor Jerry Pillath. They then adjourned until Thursday, July 23, when they will meet at the Municipal Building from 2:30 to 4:30 p.m. An "Open Book" session for property owners to check assessments and discuss assessment issues with Pillath prior to the official Board of Review meeting is scheduled from 9 to 11 a.m. on Thursday, July 16, at the Municipal Building.
Board of Review members present for Tuesday's brief session were Alderpersons Debbie Sievert, Mike Behnke and Richard Berth, Mayor Cathi Malke and Clerk/Treasurer Tammy Kasal.
By unanimous votes, Behnke was elected Board of Review chair and Kasal was elected vice chair. They verified that at least two members - Behnke and Kasal - have met mandatory training requirements and will be present for the July 23 Board of Review.
Pillath presented two reports on city assessments. One showed the city's total value in 2019 is assessed at $143,632,200, while the Wisconsin Department of Revenue placed value at $168,095,600, based on recent property sales. The major difference is in values of residential properties, which are assessed at $88,778,200, or 81.45 percent of the Department of Revenue value, at $109,000,200.
Pillath explained municipalities must be within 10 percent of agreement with state values at least once every six years, and this is the third year of non-compliance. He said next year the city will get a non-compliance letter and then will have until 2022 to get it corrected.They need to raise valuations about 20 percent, he said. He explained that even though valuations will be going up, the mill rate will go down and the amount of taxes to be paid theoretically will remain the same.
A second report showed the assessed value versus actual sales values. For residential properties, assessed values totaled $3,552,800 while actual sales prices totaled $4,487,050. for commercial properties assessed values totaled $1,286,200, while sales prices totaled $1,185,900. The overall ratio of assessed value to sales value was 85.30 percent. He said every year the sales prices have gone up a little bit, and added that as long as the assessed values in relation to actual sale values are all equitable, it is a fair system.
In 2019 there were four vacant and 36 improved residential parcels and seven improved commercial parcels sold.