When the City of Oshkosh conducted its property valuation earlier this year, property values in the city increased by about 50%. The residential values outpaced the commercial values. Residential properties saw a 75% increase in property value while commercial properties saw only a 30% increase in property values.
By Lisa M. Hale
OSHKOSH, WI – (WGBW & WISS) – When the City of Oshkosh conducted its property valuation earlier this year, property values in the city increased by about 50%. The residential values outpaced the commercial values. Residential properties saw a 75% increase in property value while commercial properties saw only a 30% increase in property values.
Oshkosh City Manager Mark Rohloff says residential value is outpacing commercial values. That means there will be a shift in where the property tax revenue will come from for the city.
“Even if the council voted a zero percent increase in how much we’re going to collect in taxes, there’ll still be a shift,” said Rohloff. “Somebody is picking up a larger piece of the property tax pie. And in this case, it’s going to residential.”
Meanwhile, the Wisconsin Department of Revenue told the city that the commercial property valuations in Oshkosh are at 80% of what the state feels they should be. So, Oshkosh will have to do another property valuation next year.
“It may shift it back a little bit towards commercial,” Rohloff said. “It may help a little bit for residential, but it’s hard to say because the market is still very volatile, which is so unusual for Wisconsin.”
He said he knows property valuation and its effect on taxes is difficult to understand.
“This is complicated stuff! And I wish. I wish I could just simply just give you a magic answer,” Rohloff said.
Because of the revaluation, residents will see a 17% to 20% increase in the city portion of property taxes. The county, school district, and vo-tech districts also receive a portion of property taxes.
The Oshkosh Common Council is concerned about the residential tax burden. They spent a portion of its last meeting discussing ways to ease the tax burden on residential property owners.
“Council is very concerned about impact on residential properties and want to try to find a way to minimize that,” said Rohloff. “Because, even at a zero, you’re going to see a chunk of property taxes get shifted over to you as a residential owner.”
Rohloff said he and city staff will present a budget to the Common Council on October 18th, after which there will be two all-day budget work sessions. The council will then vote on the final budget in November.
A revaluation costs the city $250,000. Rohloff said a revaluation will have to occur again in 2025 because the Department of Revenue is requiring an update.
