Equalized values spiraling down in St. Croix County, region
August 20, 2012 at 8:30 am in River Falls Journal
Figures released last week by the state Department of Revenue show equalized values on homes, farms and businesses in western Wisconsin continued on a downward trend with decreases ranging from just over 4 percent in River Falls to 23 percent in the town of Hudson and up to 37 percent across Polk County over the past four years.
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Because homeowners and businesses have experienced a decline in property values, their net worth has declined as well. Farmers are still taking advantage of huge property tax breaks under the use value tax assessment system under state tax law. It’s time to modify the property tax system so farmers start paying their fair share, especially now when farmers are receiving record high crop prices.
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