How Residential Property is Assessed
Residential property is valued based on how it existed on January 1 of each year. To determine the fair market value, the City Assessor reviews the property in several ways:

• Property inspection – looking at the physical condition of the home

• Sales data – comparing it to recent sales of similar homes

• Market adjustments – considering changes in the local housing market

Key factors that influence a home’s value include its location, style, age, size (square footage), and the quality of materials used.

How Land is Assessed
Land is valued separately from the buildings on it. In determining land value, the assessor considers features such as:

• Size and shape of the lot

• Slope or topography

• Whether it includes waterfront property

These characteristics all play a role in establishing the land’s fair market value.

Commercial Property Assessments in Middleton

How Commercial Property is Assessed
Commercial properties in Middleton are assessed based on their estimated fair market value as of January 1 each year. Wisconsin law requires that assessors consider all accepted valuation methods when determining property values.

For commercial properties, one of the primary methods is the income approach, which looks at market rental income and operating expenses. Other techniques, such as analyzing comparable property sales or considering construction costs, may also be used.

What Counts as Commercial Property?
Commercial property generally includes:

• Buildings primarily used for selling goods or services

• Apartment buildings with more than three units

• Office buildings

• Vacant parcels where the highest and best use is considered commercial

(Note: The City of Middleton does not assess manufacturing properties; the Wisconsin Department of Revenue assesses them.)

Factors That Influence Value
When valuing commercial property, the assessor may consider:

• Location of the property

• Comparable sales of similar commercial properties

• Reported income and expenses (for properties that generate rental income)

• Construction costs and quality of materials

Confidentiality
If you provide income and expense information to the City for assessment purposes, Wisconsin law ensures this information is confidential. It cannot be shared publicly or released in response to open records requests.

Why This Matters
Accurate assessments help ensure that property taxes are distributed fairly among all property owners.

Business Personal Property Tax

Beginning with the 2024 tax year, business personal property is no longer subject to taxation in Wisconsin.

This change was part of Wisconsin Act 12, approved by the Wisconsin Legislature in 2023.

What this means for businesses in Middleton

• You do not need to file a Business Personal Property Tax form with the City of Middleton Assessor for 2024 or any future tax years.

• The exemption applies statewide and is permanent under current law.

If you have questions about how this affects your property taxes, please contact the City of Middleton Assessor’s Office.

Farmland Assessments in Wisconsin

In Wisconsin, farmland is assessed differently from other types of property.

Use-Value Assessment

Since the 1995–1997 Budget Act, farmland has been valued based on its use value rather than its market value. This system was created to:

• Support Wisconsin’s agricultural economy

• Help limit the effects of urban sprawl on farmland

Use value means that the way the land is used for farming is the key factor in determining its assessment classification.

What Qualifies

• Land must be primarily devoted to agricultural use to qualify.

• Residences and agricultural buildings located on farm property do not qualify for use-value assessment. Those portions are assessed at their standard market value.

More Information

For detailed guidance, please see the Wisconsin Department of Revenue’s Agricultural Assessment Guide.