Figures released last week by the Wisconsin Department of Revenue show that the equalized value of real estate and personal property in Kewaunee County dropped about 18 percent last year, a side effect of the dispute over the valuation of the former Kewaunee Power Station nuclear plant.

The town of Carlton assessed the plant at $457.4 million in 2015, and owner Dominion, which argued the plant was worth nothing but offered to accept a $10 million assessment, sued after paying the property tax bill. A second suit was filed over the 2016 assessment of nearly $469 million.

The utility and town announced a settlement in January setting the assessment at $15 million. The result is an 80 percent drop in the town’s total equalized valuation, from $539,054,300 in 2016 to $108,297,900 as of Jan. 1, 2017.

All other municipalities in Kewaunee County experienced increases ranging from 1 percent to 9 percent.

The figures are included in the annual Equalized Value Report, which shows that Wisconsin’s total statewide equalized property value as of Jan. 1, 2017, was $526 billion, a 4 percent increase over the prior year. Equalized values are based on data from Jan. 1, 2016, to Jan. 1, 2017.

The strongest growth in equalized value – about 9 percent – occurred in the towns of Luxemburg and Casco. The slowest growth occurred in the city of Algoma, where property values increased by 1 percent.

Equalized values are calculated annually and used to ensure statewide fairness and equity in property tax distribution. The equalized value represents an estimate of a taxation district’s total taxable value, and provides for the fair apportionment of school district and county levies to each municipality. Changes in equalized value do not necessarily translate into a change in property taxes.

The DOR report also shows construction activity continues an upward trend. Wisconsin added $8.1 billion in new construction during 2016, including $3.6 billion in residential property, $3.8 billion in commercial property, and $389 million in manufacturing property. In total, new construction value increased by 13.6 percent from the prior year.

Kewaunee County added $18.4 million in new construction during 2016, including $12.3 million in residential property, $1.8 million in commercial property, and $313,900 in manufacturing property. Total new construction value increased about 1 percent from the prior year.

All Wisconsin residential property was valued at $369 billion as of Jan. 1, 2017, an increase of 4.3 percent, or $15.1 billion. The 4.3 percent increase marks the fourth consecutive year of positive gains in residential home values.

For more information on Equalized Values, review the Wisconsin’s Equalized Values publication on the DOR website or the Annual Equalization Report. DOR also publishes the Guide for Property Owners, which provides additional information about property taxes.

Town – 2016 valuation -2017 valuation – Change

Ahnapee – $86,194,200 – $90,068,200 – 4%

Carlton – $539,054,300 – $108,297,900 – -80%

Casco – $93,686,000 – $101,680,600 – 9%

Franklin – $93,135,100 – $97,777,700 – 5%

Lincoln – $98,496,900 – $102,400,700 – 4%

Luxemburg – $129,801,600 – $141,096,000 – 9%

Montpelier – $128,555,800 – $134,126,900 – 4%

Pierce – $81,260,200 – $87,600,400 – 8%

Red River – $147,928,200 – $154,413,000 – 4%

W. Kewaunee – $102,904,200 – $106,058,800 – 3%

Villages

Casco – $28,188,500 – $29,682,200 – 5%

Luxemburg – $168,690,700 – $181,686,400 – 8%

Cities

Algoma – $164,202,800 – $166,383,300 – 1%

Kewaunee – $155,633,600 – $160,648,400 – 3%

County – $2,017,732,100 – $1,661,920,500 – -18%