Assessments

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Assessments are based on sales of similar properties.

"In that case we'd point out the sales that occurred in their vicinity and say that Pleasant Prairie isn't acting like other states in the country" where the housing market has collapsed, he said.

Well, a house just sold in my area for 17% less than it's assessed value. Others have also sold for less than assessed value (-15 to -2%). Only one or two for assessed value or above and one of those had illegal improvements that the new homeowners got nailed on. So I guess we'll see real big drops next time around. All depends on what happens in next two years. Not that it really matters as you pay either way.