Results of Greendale's 2016 Village-Wide Revaluation Headed Your Way

GREENDALE -- Greendale property owners should expect to receive a Notice of Assessment in two weeks' time as the village completes its first village-wide revaluation since 2012.

According to the village, many changes that have occurred in the marketplace since 2012, which may appear on your new Notice of Assessment that reaches your home during the week of July 18.

As a result of those changes, city officials have said, the average property in the Village in 2015 was assessed at approximately 95% of the market value.

The goal of the 2016 revaluation had been to bring properties in line with current market conditions and to assess properties at or near 100% of market value using properties that sold during 2014 and 2015 as a basis, the village says.

According to the village, an increase in assessment does not necessarily mean an increase in taxes in the year of a revaluation. Property owners that are impacted by the revaluation are properties that increase in value at a greater percentage than the average property and properties that do not increase at the same rate as the average property.