Wisconsin DOR Publishes Guide on Omitted Property Tax Assessment Process

The Wisconsin Department of Revenue (DOR) has published a guide summarizing the process for assessing and collecting taxes on omitted property, as outlined in section 70.44 of the Wisconsin Statutes. The guide details the five-step procedure involving assessors, municipal clerks/treasurers, the DOR, municipalities, and county treasurers in identifying omitted property, notifying property owners, determining the omitted value, calculating and billing the omitted taxes, sharing the collected taxes with other taxing jurisdictions, and reporting the omitted taxes during the settlement process. The process allows for assessment of property omitted from taxation for up to two prior years, with specific requirements for ...