Equalized property values gain in county, some struggle|
|After a substantial decline in 2012, Langlade County property values are rebounding, bucking a state trend.|
According to the 2013 Equalized Value Report published by the Wisconsin Department of Revenue, property values here increased .02 percent between 2012 and 2013.
The increase is scant, but encouraging, especially since values statewide declined 1 percent.
“I’m glad they didn’t go down,” Gary Olsen, Langlade County’s finance director said. “I would like to see them go up a little more but it shows some things are happening in the area.”
Olsen said he was especially pleased with the amount of new construction, figured at .61 percent. That is double last year’s total.
The increases come after a decline in valuations of 1.43 percent between 2011 and 2012, dismal but not as bad as the state’s reduction overall of 3 percent for that year.
The increase also comes as surrounding counties remain in a valuation free fall. Property values in Vilas County dropped 5 percent between 2012 and 2013, after declining 5 percent a year earlier, while values in Oneida County fell 1 percent, on top of a 3 percent decline a year earlier.
Forest County posted a decline of 4 percent, on top of a 1 percent reduction in 2012.
Equalized values are used to assign the amount of taxes a municipality pays to the school district, technical college, special district and county for providing services. Each municipality collects taxes locally for its budget.
A closer look
For 2013, the state is figure Langlade County property values top $1.643 million, an increase of $283,800.
The city of Antigo saw a valuation increase of 1.21 percent, or $4.2 million, and has a total value of $352.5 million.
The village of White Lake posted the healthiest increase countywide, climbing, 5.8 percent to $15.7 million.
Results were mixed in the county’s 17 towns.
The county’s largest township—Elcho—increased its value by 2.09 percent, or $5.1 million, and is now worth $250.9 million. But next-door neighbor Upham, the second largest township, saw values fall 1.4 percent, or $2.5 million. That town is now worth $180 million.
Among other towns those showing increases in value included Ackley, .13 percent, for a total value of $38.8 million; Evergreen, .86 percent to $32 million; Neva, 4.35 percent to $71.6 million; Parrish, 2.42 percent, to $13.5 million; Summit, .23 percent to $21.1 million; Vilas, 1.01 percent to $27.4 million; and Wolf River, .37 percent to $117.6 million.
Declines were reported in Ainsworth, down 5.66 percent, $76.1 million; Antigo, 1.09 percent, $90.3 million; Langlade, 1.39 percent, $65.8 million; Norwood, 1.06 percent, $66.6 million; Peck, .10 percent, $29.9 million; Polar, .21 percent, $79,2 million; Price, 2.16 percent, $19.7 million; Rolling, down 3.81 percent, $99.1 million;
Oneida County’s 1 percent decline translates to a $88.1 million reduction, placing the county’s land value at $6.6 billion. The city of Rhinelander fell 5 percent, or $28 million, in value, to $547.9 million.
Among towns just north of the Langlade County line, Enterprise dropped 2 percent for a total value of $96 million; and Schoepke increased 1 percent to $126 million.
In Vilas County, the 5 percent decline represents a dollar value of $326 million. Valuations in that lake-soaked county total $6.6 billion. The city of Eagle River gained 3 percent for a total value of $160 million.
Overall, the state saw a 1 percent decrease in equalized values from 2012, as compared with last year's 3 percent decrease.
The report indicates Wisconsin's real estate market is stabilizing, with notable increases in manufacturing and commercial property values. Manufacturing property saw an overall 3 percent increase because of new manufacturing construction. Commercial property also increased, by 1 percent, due to new construction.
The 2013 equalized values are based on property values as of January 1, 2013, and those property values are based on what was happening in the real estate market in 2012.
In the photo, Bill Thome is shown wiring a home under construction in rural Langlade County.
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