Town of Keystone – 2025 Property Revaluation
What Is a Revaluation?
A revaluation is a town-wide update of all property assessments to ensure that every parcel is valued fairly and equitably based on current market conditions.
It does not increase the total amount of taxes collected by the Town of Keystone—it simply redistributes the tax burden so each owner pays their fair share according to today’s market value.
Revaluations are required under Wisconsin Statutes §70.05 to maintain uniform and lawful property assessments.
Why Is This Happening Now?
Over time, property values change due to:
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Real estate market trends and recent sales
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New construction or property improvements
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Changes in land use or zoning
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Economic factors and inflation
A revaluation ensures that assessments are accurate and consistent so property taxes remain fair for all residents.
What Does This Mean for Property Owners?
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Your property’s assessed value may change. Some assessments will rise, others may fall, depending on the local market.
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A higher assessment doesn’t always mean higher taxes. The tax rate (mill rate) will adjust based on total town value and local budgets.
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The total taxes collected by the town and other taxing bodies do not automatically increase due to a revaluation.
Example
Let’s say a home was previously assessed at $150,000, and the owner paid about $2,100 in property taxes.
After revaluation, the assessor determines that homes like this are now selling for closer to $225,000—a 50% increase.
If the town’s overall assessed value also increased by about 50%, the tax rate would drop proportionally.
That means the homeowner’s new tax bill would likely stay about the same, unless their increase was greater or less than the town average.
(Example only; actual tax impacts vary depending on each property and local budget changes.)
Next Steps
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Assessment notices will be mailed to all property owners once the new values are complete.
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Contact the assessor with questions about your new value before Open Book.
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During Open Book, you can review your record and discuss your assessment in person. November 24th 5:00pm Keystone Town Hall
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If questions remain, you may file an appeal with the Board of Review. December 3rd 5:00pm Keystone Town Hall
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Final values will appear on your December property tax bill.
Contact Information
Assessor
North Wisconsin Assessment Service, Inc.
35025 County Highway I
Bayfield, WI 54814
Phone: (715) 779-3088
Email: [email protected]