AB68-ASA2-AA6,37,6 6 Section 242d. 70.32 (1) of the statutes is amended to read:
AB68-ASA2-AA6,38,47 70.32 (1) Real property shall be valued by the assessor in the manner specified
8in the Wisconsin property assessment manual provided under s. 73.03 (2a) at its
9highest and best use
from actual view or from the best information that the assessor
10can practicably obtain, at the full value which could ordinarily be obtained therefor
11at private sale. In determining the value, the assessor shall consider recent
12arm's-length sales of the property to be assessed if according to professionally
13acceptable appraisal practices those sales conform to recent arm's-length sales of
14reasonably comparable property; recent arm's-length sales of reasonably
15comparable property; and all factors that, according to professionally acceptable
16appraisal practices, affect the value of the property to be assessed. In this subsection,
17“arm's-length sale" means a sale between a willing buyer and willing seller, neither
18being under compulsion to buy or sell and each being familiar with the attributes of
19the property sold. In this subsection, “highest and best use" means the specific
20current use of the property or a higher use for which the property may be used as of
21the current assessment date, if the property is marketable for that use and the use
22is legally permissible, physically possible, not highly speculative, and financially
23feasible and provides the highest net return. When the current use of a property is
24the highest and best use of that property, value in the current use equals full market

1value. In this subsection, “legally permissible” does not include a conditional use
2that has not been granted as of the assessment date or any use that has not received
3as of the assessment date all federal, state, or local government approvals, permits,
4or licenses that are necessary for the use to occur.
AB68-ASA2-AA6,242e 5Section 242e. 70.32 (1b) of the statutes is created to read:
AB68-ASA2-AA6,38,186 70.32 (1b) In determining the value of real property under sub. (1), the assessor
7may consider, as part of the valuation under sub. (1), any lease provisions and actual
8rent pertaining to a property and affecting its value, including the lease provisions
9and rent associated with a sale and leaseback of the property, if all such lease
10provisions and rent are the result of an arm's-length transaction involving persons
11who are not related, as provided under section 267 of the Internal Revenue Code for
12the year of the transaction. The assessor shall reconcile the results of such
13consideration with the professionally acceptable appraisal practices regarding
14reasonably comparable sales, the cost approach, and other methods specified in the
15Wisconsin property assessment manual provided under s. 73.03 (2a). In this
16subsection, an “arm's-length transaction" means an agreement between willing
17parties, neither being under compulsion to act and each being familiar with the
18attributes of the property.
AB68-ASA2-AA6,242f 19Section 242f. 70.32 (1d) of the statutes is created to read:
AB68-ASA2-AA6,38,2220 70.32 (1d) (a) To determine the value of property using generally accepted
21appraisal methods, the assessor shall consider all of the following as comparable to
22the property being assessed:
AB68-ASA2-AA6,38,2423 1. Sales or rentals of properties exhibiting the same or a similar highest and
24best use with placement in the same real estate market segment.
AB68-ASA2-AA6,39,5
12. Sales or rentals of properties that are similar to the property being assessed
2with regard to age, condition, use, type of construction, location, design, physical
3features, and economic characteristics, including similarities in occupancy and the
4the potential to generate rental income. For purposes of this subdivision, such
5properties may be found locally, regionally, or nationally.
AB68-ASA2-AA6,39,76 (b) For purposes of par. (a), a property is not comparable if any of the following
7applies:
AB68-ASA2-AA6,39,118 1. At or before the time of sale, the seller places any deed restriction on the
9property that changes the highest and best use of the property, or prohibits
10competition, so that it no longer qualifies as a comparable property under par. (a) 1.
11or 2. and the property being assessed lacks such a restriction.
AB68-ASA2-AA6,39,1612 2. The property is dark property and the property being assessed is not dark
13property. In this subdivision, “dark property” means property that is vacant or
14unoccupied beyond the normal period for property in the same real estate market
15segment. For purposes of this subdivision, what is considered vacant or unoccupied
16beyond the normal period may vary depending on the property location.
AB68-ASA2-AA6,39,1817 (c) For purposes of par. (a), “highest and best use" has the meaning given in s.
1870.32 (1).
AB68-ASA2-AA6,39,2419 (d) For purposes of par. (a), “real estate market segment” means a pool of
20potential buyers and sellers that typically buy or sell properties similar to the
21property being assessed, including potential buyers who are investors or
22owner-occupants. For purposes of this paragraph, and depending on the type of
23property being assessed, the pool of potential buyers and sellers may be found locally,
24regionally, nationally, or internationally.”.
AB68-ASA2-AA6,40,1
162. Page 310, line 17: after that line insert:
AB68-ASA2-AA6,40,3 2 Section 279a. 79.01 (2d) of the statutes is renumbered 79.01 (2d) (intro.) and
3amended to read:
AB68-ASA2-AA6,40,74 79.01 (2d) (intro.) There is established an account in the general fund entitled
5the “County and Municipal Aid Account." The total amount to be distributed in 2011
6to counties and municipalities from the county and municipal aid account is as
7follows:
AB68-ASA2-AA6,40,9 8(a) In 2011, $824,825,715 and the total amount to be distributed to counties and
9municipalities in
.
AB68-ASA2-AA6,40,11 10(b) Beginning in 2012, and in each year thereafter, from the county and
11municipal aid account is
and ending in 2020, $748,075,715.
AB68-ASA2-AA6,279b 12Section 279b. 79.01 (2d) (c) of the statutes is created to read:
AB68-ASA2-AA6,40,1313 79.01 (2d) (c) In 2021, $763,137,215.
AB68-ASA2-AA6,279c 14Section 279c. 79.01 (2d) (d) of the statutes is created to read:
AB68-ASA2-AA6,40,1515 79.01 (2d) (d) In 2022, and in each year thereafter, $778,500,015.
AB68-ASA2-AA6,279d 16Section 279d. 79.035 (5) of the statutes is renumbered 79.035 (5) (a) and
17amended to read:
AB68-ASA2-AA6,40,2218 79.035 (5) (a) Except as provided in subs. (6), (7), and (8), for the distribution
19distributions beginning in 2013 and subsequent years ending in 2020, each county
20and municipality shall receive a payment under this section that is equal to the
21amount of the payment determined for the county or municipality under this section
22for 2012.
AB68-ASA2-AA6,279e 23Section 279e. 79.035 (5) (a) of the statutes, as affected by 2019 Wisconsin Act
2419
, section 18, and 2021 Wisconsin Act .... (this act), is repealed and recreated to read:
AB68-ASA2-AA6,41,4
179.035 (5) (a) Except as provided in subs. (7) and (8), for the distributions
2beginning in 2013 and ending in 2020, each county and municipality shall receive
3a payment under this section that is equal to the amount of the payment determined
4for the county or municipality under this section for 2012.
AB68-ASA2-AA6,279f 5Section 279f. 79.035 (5) (b) of the statutes is created to read:
AB68-ASA2-AA6,41,96 79.035 (5) (b) 1. Except as provided in subs. (6), (7), and (8), for the distribution
7in 2021, each county and municipality shall receive a payment under this section
8that is equal to the amount of the payment determined for the county or municipality
9under this section for 2020, increased by 2 percent.
AB68-ASA2-AA6,41,1310 2. Except as provided in subs. (6), (7), and (8), for the distribution in 2022, each
11county and municipality shall receive a payment under this section that is equal to
12the amount of the payment determined for the county or municipality under this
13section for 2021, increased by 2 percent.