The total value of real property in Barron County stood at $4,311,203,400 at the end of last year, and an estimated $51,632,200 in new construction is taking place in the county during 2019,w according to figures from the Wisconsin Department of Revenue.
The figures were released Thursday, Aug. 1, 2019.
According to Patty Mayers, communications director for the state agency, the Department of Revenue posts 2019 preliminary figures “to provide municipalities with the opportunity to review the values before they are certified on Thursday, Aug. 15.
“It should be noted that preliminary equalized valuations often change before they are certified,” she added.
The figures are calculated annually and used to ensure fairness and equity in statewide property tax distribution, Mayers added.
“The equalized value represents an estimate of a taxation district’s total taxable value and provides for the fair apportionment of school district and county levies to each municipality,” she said.
“Changes in equalized value do not necessarily translate into a change in property taxes.
The release of preliminary figures is part of the process the state uses to determine property values. Figures will become final this coming October.
The county and its municipalities will use the figures to compute property taxes, which will be mailed to property owners in December.