West Allis property owners, brace yourselves for mailbox action as the city gears up for an all-important property revaluation. Notices are about to drop and the city’s website will light up with updated values by April 7, as per the city’s latest bulletin, as reported by the City of West Allis.
The trigger for this reval wave? A potent mix of rocketing sale prices and a buzzing seller’s market for the West Allis housing landscape since 2020. Historically low interest rates, the squeeze of limited housing inventory, and a hungrier appetite for suburban homes have buyers locked in a competitive showdown according to the City of West Allis. It’s been a wild ride of multiple-offer scenarios and bidding wars, factors that are key drivers behind this revaluation chess move.
But what’s the real deal with a revaluation? It’s not about upping the tax game. Wisconsin law mandates this periodic reset so everyone’s playing on a level field in terms of market conditions and maintaining equal tax footing across the board. It’s not the total tax levy that’s getting a facelift – it’s how that levy gets divided up based on those fresh-off-the-press property assessments…