Property in the City of Richland Center will be re-evaluated

Property in the City of Richland Center will be re-evaluated. Wisconsin state law mandates that assessors maintain their assessments within a 10% range of the state’s equalized value at least once every four years. This requirement ensures fairness and equity in property tax distribution across the state. Andy Kurtz of Vierbicher reported to the Richland Center City Council that Richland Center’s current assessment ratio at 67% at last night’s (Tuesday) meeting. Kurtz added that market values have changed rapidly over the last five years. The City has received two non-compliance letters from the Department Of Revenue making a city-wide revaluation not only necessary but a high priority. The City last underwent a revaluation in 2008. The frequency municipalities choose to conduct revaluations varies, but a five year interval is typical. The City contracted Vierbicher to complete a request for proposal (RFP) process to solicit revaluation services. By entering into a five year contract for assessments, the city will be in compliance if values continue to increase rapidly as they will be continually working to become in compliance. The council approved executing a five-year contract with Accurate Appraisals LLC for a 2025 Market Update and Annual Assessment Maintenance for the years 2026 through 2029 at a cost of $45,000 annually.

Anna Jakubek, Vice-President of Development for Cobblestone Hotels, gave a presentation to the Richland Center Council. The idea she presented was for a 54 room hotel. This idea is based on a feasibility study done by a third party for the needs of Richland Center.