Home assessments in Fontana Wisconsin have increased by 45 percent this year, according to a recent article from the Lake Geneva Regional News online. Accurate Appraisal, the village’s appraiser, did the assessments based on the actual market sales in 2006 and 2007.

The new assessments were done in order to comply with Wisconsin’s state law which requires home assessments to be up to date with the changing times. The last time Fontana reassessed all of the property in the village was in 2005 and home sales since then have been significantly higher than their assessed values. Consequently, the Wisconsin Department of Revenue reviewed the situation in fall of 2006 and found that the residential property values were assessed at 86 percent of the equalized value; in order to comply with state law, the village needs to be within 90 percent of its assessed value.

But some Fontana residents have been worried that this will definitely mean an increase in their property taxes as well. Village Administrator, Kelly Hayden, has been answering to these questions and concerns, reporting to Lake Geneva Regional News that the increase was not ‘directly fixed to the tax bill,’ but if a person’s home assessment is below the average, then they will see a tax bill decrease; those that saw a 45 percent increase should not see a tax change, but those that experienced more than this percent would likely see one.

 image credit: sxc.hu

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