Tax 12.07(1)(1) Levels of certification. Based on the complexity of assessment functions and the various classes of property within each taxation district, the department has established the levels of certification required for statutory assessors of counties and municipalities as follows: Tax 12.07 NoteNote: See s. Tax 12.06 (2) for a description of the duties of an assessor 1, 2, and 3. Tax 12.07(2)(a)(a) The department shall establish the level of certification under sub. (1) required for statutory assessors of each county and municipality and publish this information in the Wisconsin Property Assessment Manual. Tax 12.07(2)(b)(b) The department shall review the levels of certification under par. (a) every 5 years and revise them as needed. The levels of certification as revised under this paragraph shall be published by the department in the Wisconsin Property Assessment Manual. Tax 12.07(2)(c)(c) A revision under par. (b) shall take effect January 1 of the second year after publication in the Wisconsin Property Assessment Manual. Tax 12.07 HistoryHistory: Cr. Register, February, 1976, No. 242, eff. 3-1-76; am. (2) (b), Register, January, 1985, No. 349, eff. 2-1-85; am. (2) (b), Register, June, 1996, No. 486, eff. 7-1-96; CR 13-036: r. and recr. Register December 2013 No. 696, eff. 1-1-14; CR 19-030: am. (2) (b) Register October 2019 No. 766, eff. 11-1-19. Tax 12.073Tax 12.073 Estimated fair market value on real and personal property tax bills. Tax 12.073(1)(1) Definitions. For purposes of administering s. 74.09, Stats., the following terms are defined: Tax 12.073(1)(a)(a) “Assessment ratio” means the decimal fraction rounded to the nearest ten thousandth obtained when the assessed value of all taxable nonmanufacturing property as taken from the clerk’s statement of assessment filed with the department is divided by the value of all taxable nonmanufacturing property in the taxation district as determined by the department of revenue prior to adjustments under s. 70.57, Stats. Tax 12.073(1)(b)(b) “Estimated fair market value of real property” means the result rounded to the nearest $100 obtained when the total assessed value of a parcel of real property, including forest crop lands assessed per s. 77.04, Stats., and managed forest croplands assessed under s. 77.84, Stats., as shown on the tax bill is divided by the assessment ratio furnished to the clerk by the department of revenue. Tax 12.073(1)(c)(c) “Estimated fair market value of personal property” means the result rounded to the nearest $10 obtained when the total assessed value of the personal property as shown on the tax bill is divided by the assessment ratio furnished to the clerk by the department of revenue. Tax 12.073(1)(d)(d) “Taxation district” means any whole or portion of a municipality lying within a county. Tax 12.073(2)(a)(a) The department of revenue shall furnish the assessment ratio to every taxation district clerk on the department’s final statement of assessment for the taxation district. Tax 12.073(2)(b)(b) The clerk of the taxation district shall use the assessment ratio furnished by the department to calculate the estimated fair market value shown on the tax bills. The prescribed statements provided by the department are not intended to restrict taxpayers from appealing their assessment if the estimated fair market value exceeds the assessment by less than 10%. Tax 12.073 NoteNote: Option A
Tax 12.073 NoteIn addition to the assessed value, Wisconsin law requires that your taxation district show the estimated fair market value of taxable property on property tax bills. This estimated fair market value reflects the approximate market value of your property as of January 1 of the year shown at the top of this tax bill.
Tax 12.073 NoteThis estimated fair market value has been calculated by dividing the assessed value shown on this tax bill by the average assessment ratio of furnished by the Wisconsin department of revenue. The department calculated this ratio by dividing the total January 1 local assessed value by the total January 1 state’s equalized value of your taxation district. If you believe that the estimated fair market value exceeds by at least 10% the amount of money for which your property could have been sold on January 1 of the year shown at the top of this tax bill contact your local assessor or, in the case of manufacturing property, contact the manufacturing section of the department of revenue in your area.
Tax 12.073 NoteNote: Option B
Tax 12.073 NoteIn addition to the assessed value shown, Wisconsin law requires that your taxation district show the estimated fair market value of taxable property on property tax bills. This estimated fair market value reflects the approximate market value of your property as of January 1 of the year shown at the top of this tax bill.
Tax 12.073 NoteThis estimated fair market value has been calculated by dividing the assessed value shown on this tax bill by the average assessment ratio in your taxation district as furnished by the Wisconsin department of revenue.
Tax 12.073 NoteThe department calculated this ratio by dividing the total January 1 local assessed value by the total January 1 state’s equalized value of your taxation district. If you believe that the estimated fair market value exceeds by at least 10% the amount of money for which your property could have been sold on January 1 of the year shown at the top of this tax bill contact your local assessor, or in the case of manufacturing property, contact the manufacturing section of the department of revenue in your area.
Tax 12.073 NoteNote: This section interprets s. 74.09, Stats. Tax 12.073 HistoryHistory: Cr. Register, August, 1982, No. 320, eff. 9-1-82; am. (1) (b) and (2) (b), Register, January, 1989, No. 397, eff. 2-1-89; correction in (1) (intro.) made under s. 13.93 (2m) (b) 7., Stats., Register November 2002 No. 563. Tax 12.10Tax 12.10 Examination of manufacturing property report forms, confidentiality. Tax 12.10(1)(1) Manufacturing property report forms that must be completed by all manufacturers and returned to the department according to s. 70.995 (12), Stats., are confidential records. Self reporting forms for personal property required by s. 70.35 (3), Stats., are confidential records of the assessor’s office. Tax 12.10(2)(2) Manufacturing property report forms shall be deemed privileged information, for use by the department and for use in any public hearing regarding the property assessment. Local assessors and their agents view the report forms submitted regarding property in the jurisdiction the assessor represents. Government agencies may view the report forms for use in acquiring real property for public purposes. Tax 12.10(3)(3) Upon presentation of appropriate identification by the person allowed to make the examination, the report forms may be examined only at the district property assessment office. Tax 12.10 HistoryHistory: Cr. Register, March, 1979, No. 279, eff. 4-1-79. Tax 12.20Tax 12.20 Net proceeds occupational tax on metal mining, taxable year. The taxable year adopted by the person engaged in mining metalliferous minerals in this state for purposes of the “net proceeds occupational tax report” shall correspond to the year adopted by that person for Wisconsin franchise and income tax purposes. Tax 12.20 HistoryHistory: Cr. Register, June, 1979, No. 282, eff. 7-1-79. Tax 12.21Tax 12.21 Indexed mining net proceeds tax rate schedule. Tax 12.21(1)(1) Section 70.375 (5), Stats., prescribes the tax rates to be applied to the net proceeds of the mine of persons engaged in mining metalliferous minerals for taxable years 1981 and 1982. Tax 12.21(2)(2) Section 70.375 (6), Stats., provides that “For calendar year 1983 and corresponding fiscal years and thereafter, the dollar amounts in sub. (5) and s. 70.395 (1) to (2) (i) shall be changed to reflect the percentage change between the gross national product deflator for June of the current year and the gross national product deflator for June of the previous year, as determined by the U.S. department of commerce as of December 30 of the year for which the taxes are due, except that no annual increase may be more than 10%. The revised amounts shall be rounded to the nearest whole number divisible by 100 and shall not be reduced below the amounts under sub. (5) on November 28, 1981. Annually, the department shall adopt any changes in dollar amounts required under this subsection and incorporate them into the appropriate tax forms.” Tax 12.21 NoteNote: This section interprets s. 70.375 (5) and (6), Stats. Tax 12.21 HistoryHistory: Cr. Register, June, 1983, No. 330, eff. 7-1-83. Tax 12.22Tax 12.22 Confidentiality of information. Any information received for the taxable year 1981 and thereafter shall not be divulged except as provided in s. Tax 1.11. Tax 12.22 HistoryHistory: Cr. Register, June, 1983, No. 330, eff. 7-1-83; correction made under s. 13.93 (2m) (b) 7., Stats., Register November 2002 No. 563. Tax 12.23Tax 12.23 Basis and amount of deduction for depreciation and amortization. Tax 12.23(1)(1) The basis for depreciation and amortization of the property eligible for such write-offs prior to January 1, 1981 under s. 70.375 (4) (k), Stats., 1979, for mines operated during the taxable year 1977 shall be their net book value as of the beginning of that year provided that the straight line method for computing the expense was used for book purposes. If the straight line method was not used the basis shall be recomputed as if it was used. Tax 12.23(2)(2) The amount of the deduction for depreciation on property first eligible for depreciation on or after January 1, 1981 is limited to amounts allowable under s. 71.04 (15), Stats. Tax 12.23 HistoryHistory: Cr. Register, June, 1979, No. 282, eff. 7-1-79; am. Register, June, 1983, No. 330, eff. 7-1-83. Tax 12.25Tax 12.25 Review of assessments, claims for refunds. Additional assessments and claims for refunds for excess net proceed tax payments are subject to the same procedure for review and final determination as additional income tax assessments and claims for refunds under provisions of ch. 71, Stats., as far as the same may be applicable. Tax 12.25 HistoryHistory: Cr. Register, June, 1979, No. 282, eff. 7-1-79; renum. from Tax 12.28, Register, June, 1983, No. 330, eff. 7-1-83. Tax 12.60 HistoryHistory: CR 16-065: cr. Register, May, 2017, No. 737, eff. 6-1-17.
