SHAWANO, WI-A recent market analysis conducted by the city has revealed a substantial 28% increase in property values, but City Administrator Eddie Sheppard is cautioning residents that this surge may not necessarily translate to higher taxes. The revaluation, which followed a state-adjusted equalized value of $718 million, up from $592 million, has raised eyebrows across Shawano. However, the assessed value remained unchanged at $592 million, leaving homeowners and businesses with lingering uncertainty about their future tax bills.
The tax impact of this property value surge will only become clear after all taxing entities in Shawano complete their budget processes. City officials are urging residents to wait patiently for the final verdict on whether they will be facing a tax hike or if their property tax rates will remain relatively stable.
Importantly, the dramatic increase in property values should not be confused with the construction of the Shawano Municipal Utilities building. Administrator Eddie Sheppard has emphasized that these changes are, in fact, a reflection of Shawano’s evolving market, driven by various factors contributing to the city’s growth and development.
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