10/25/2026
Let’s talk about property taxes as we did at the town hall on Tuesday.
The City is updating property assessments to meet state requirements and better reflect current market values. Every year the City does a property tax assessment. In 2027, the city will conduct a reassessment. This reassessment is mandated by the state Department of Revenue (DOR). As you can see on slide 2 in this post, the aggregate ratio is at 1.0059 in 2021 after the last reassessment. For compliance, this ratio has to be between 0.90 and 1.10. The City has been below the 0.90 for the past five years, at no fault of the cities, which forces the reassessment. Per state statute, the city has an accessor place an accessed value on properties while the state does an assessment on the equalized value of the property. The difference between the two is the aggregate ratio. Let’s see how this affects the mill rate and taxes.
An increase in your property's assessed value does not automatically mean your taxes will increase by that same percentage.
Property taxes depend on the total taxes levied, applicable tax rates, and how your property's value changes compared with other properties.
Equalized values help the state compare property values consistently across communities and are another part of the broader property tax system.
The chart below shows how Menomonie's total assessed and equalized property values have changed over time.
Reassessment and new development are different; an increase in assessed values doesn't necessarily create the same increase in City operating revenue.
Encouraging new housing, business expansion, and redevelopment helps add value to the community and strengthen our tax base over time.
How has the mill rate changed?
The mill rate is the amount of property tax charged for every $1,000 of taxable property value.
The City's mill rate has changed over the past several years, with the presentation showing a rate of 7.22 in 2026.
A lower mill rate doesn't automatically mean a lower property tax bill because assessed property values may also change. With the ratio coming in at or close to 1.0 on the reassessment, the mill rate will go down. This is demonstrated from the reassessment in 2021 with the 2022 mill rate decreasing significantly.
Residents' total property tax bills include taxes from other jurisdictions, such as the county, school district, and technical college, not just the City.
Increasing our tax base through residential, commercial and industrial development, will also decrease the mill rate and taxes.