The fair market value listed on tax bills is calculated by applying the Village of Shorewood’s total equalized assessment ratio—which includes residential, commercial, and manufacturing properties—to each property’s assessed value. Because this ratio reflects all property types, it may not represent the specific market value of an individual property. During a Revaluation or Interim Market Update, assessors aim to bring values as close to 100% of fair market value as possible, though fair market value is an opinion and will not match the Department of Revenue’s estimates. Accurate completed a full revaluation for 2025 and considers assessed values fair as of January 1, 2025.
The Wisconsin Property Assessment Manual requires each major class and the municipality’s total assessment to fall within 10% of 100% equalized value. For 2025, the final ratio was 104.68%, slightly above 100% but fully compliant with the Department of Revenue.
Please Note:
- When the ratio is above 100%, fair market value appears lower than assessed value; when below, it appears higher.
- This ratio does not affect individual tax burdens, which depend on the relationship between municipal and county equalized values.
- Residents should rely on assessed values as the best reflection of market value.
- Shorewood will conduct a maintenance assessment in 2026, with the ratio reviewed using new data.
For more information, you can click here for a detailed explanation, visit the Assessor's webpage here, contact Accurate via email or call their office at 920.749.8098.