Wisconsin Apartment’s $29 Million Tax Value Meets ‘Uniform’ Rule

A $28.5 million assessment of a Madison apartment building satisfied the Wisconsin Constitution’s tax uniformity clause, because the owner didn’t prove a “general undervaluation” of comparable properties, an unpublished opinion said Thursday.

Veritas Village LLC argued that its witness’ report, which contrasted properties’ assessed values with their sales prices, proved that the city undervalued comparable properties while its building was assessed at fair market value, imposing an excessive tax burden on the owner. The Wisconsin Court of Appeals found fault in the witness report, holding that Veritas Village relied on calculations that disproportionately gave too much weight to too small ...