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ilwaukee's property values are on the rise, with assessments reflecting a 14.4% increase in residential properties and 17% in commercial ones between 2024 and 2025. City Assessor Nicole Larsen attributes this growth to the city's real estate market, which she closely monitors by analyzing every sale of property within Milwaukee.

    The impact varies across the city's 15 aldermanic districts, with some experiencing significantly higher increases than others. The 15th district in the central city saw a whopping 24% jump in assessed value, while District 3 on the east side had the smallest increase at 7.98%. Larsen explains that these disparities are due to differences in property values across the districts.

    A "revaluation year" like this one allows the Assessor's Office to reassess all 151,000 taxable properties in Milwaukee using a computer-aided mass appraisal system. This process helps establish accurate values based on actual sales data and market trends. Property owners can appeal their assessments by contacting the office before May 19.

    While assessments determine annual property tax bills, the actual tax rate is set during the budget process this fall. The city's tax levy will be divided among taxable properties, affecting individual property owners' bills. Those with above-average assessment increases may see higher taxes, while those below average might experience a decrease.