Westby City Council members were informed in October that the city must complete a property value reassessment to bring the city in compliance with state of Wisconsin equalized property values.

Westby City Assessor Bud Schultz informed the council that Westby’s equalized property currently stands at 87 percent for residential and at 78 percent for commercial. The state requires equalized property values to fall between 90-110 percent in value to remain in compliance.

Schultz suggested shooting for a 95 percent equalization of residential and commercial property values to prevent state intervention, which would lead to higher tax increases and to give the city some room to breathe and to prevent making the property reassessment an annual process.

Reassessment calculations will be updated off a citywide, door-to-door, assessment of all properties which was completed in 2004. The updating process will begin in late 2009 and continue through 2010, at a cost of $23,000 to the city. The open book and board of review will be held later in 2010 and the new equalized values will be reflected on property owners 2011 tax bill.

“Residential and commercial property values are currently out of bounds with the state. We don’t have a choice here. We have to update the numbers and get in compliance,” Schultz said.

Schultz added that the state of Wisconsin would like to implement a new assessment process, which would eliminate local municipality assessors and employ countywide assessment figures. He fears, as did the board, that if such a process was ever enforced that property taxes would skyrocket and force many people from their homes and businesses.

Everyone agreed that the housing market is in a state of unknown right now, but the city needs to remain compliant, which equates to higher, lower and steady property taxes down the line.

For more information on the reassessment, which will not involve door-to-door visits, contact Westby City Hall at 608-634-3214.