"Agricultural Forest" and "Undeveloped Land"
Classification and Valuation

Valuation of Agricultural Forest and Undeveloped Land

  1. How will the assessor value lands qualifying for the agricultural forest and undeveloped land classification?
  2. What does the term "full value" mean in sec.70.32(4), Wis. Stats?
  3. Should assessors adjust the values to 50% annually or should they make the adjustment once and then again when a revaluation occurs?
  4. Since assessors generally do not deal with anything less than $100 increments and most county computer systems will not accept less than $100 class entries, should the current assessment of $100 on the one acre of class 5 right of way remain $100?
  5. Will the equalized value include the agricultural forest land and undeveloped land at 50% of market value?

  1. How will the assessor value lands qualifying for the agricultural forest and undeveloped land classification?

    According to sec.70.32(4), Wis. Stats., beginning with the assessments as of January 1, 2004, agricultural forest land shall be assessed at 50% of its full value, as determined under sub. (1), and undeveloped land shall be assessed at 50% of its full value, as determined under sub. (1).

  2. What does the term "full value" mean in sec. 70.32(4), Wis. Stats.?

    This section of the Statutes presumes assessments are at market value, as sec. 70.32, Wis. Stats., requires. Since courts have recognized assessments can be at a level other than 100% then to value at 50% requires assessments to be at 50% of the average level of assessment of the municipality.

  3. Should assessors adjust the values to 50% annually or should they make the adjustment once and then again when a revaluation occurs?

    Valuation adjustments for classification changes are to be made beginning with the 2004 assessment. Generally speaking valuation changes in succeeding years will be made as the need for revaluation arises. Assessors are reminded of the sec. 70.05, Wis. Stats., which specifies compliance. The undeveloped and agricultural forest values are combined with forest and "other -- agricultural home sites and improvements" values as one class for compliance purposes.

  4. Since assessors generally do not deal with anything less than $100 increments and most county computer systems will not accept less than $100 class entries, should the current assessment of $100 on the one acre of class 5 right of way remain $100?

    It will apparently have to stay the same.

  5. Will the equalized value include the agricultural forest land and undeveloped land at 50% of market value?

    Yes. Sec. 70.57(3)(b), Wis. Stats., indicates the equalized value will include agricultural forest land and undeveloped land at 50% of full value.

For more questions concerning Agricultural Forest and Undeveloped Land Classification and Valuation, please contact the appropriate equalization district supervisor.

FOR MORE INFORMATION PLEASE CONTACT:

WISCONSIN DEPARTMENT OF REVENUE
Division of State and Local Finance
Equalization Bureau
Mail Stop 6-97
P.O. Box 8971
Madison, WI 53708-8971
Fax: (608) 264-6897

Last updated December 15, 2011