Reaping new wealth from natural resources in northern Wisconsin
Wisconsin State Roundup
Published October 1, 2000 | October 2000 issue
The natural resource-rich northern part of the state is beginning to harvest the wealth of those resources in a new way. The Wisconsin Department of Revenue recently announced statewide property valuations showing that the state as a whole experienced its single largest increase$20 billionever recorded.
About a third of the state's counties experienced double-digit valuation growth, at least eight of which are northwestern counties located in the Ninth District, including Burnett County, whose 20 percent increase was tops in the state. A Department of Revenue spokesperson attributed the increase in northern counties to demand for vacation homes during a strong economy.
Even more impressive is that these figures include the first year of phase-in for farmland valuation based on actual use rather than market potential. As a result, farmland property values across the state dropped by about one-third over 1999 valuations.