Definition
Manufacturing property consists of all property used for manufacturing, assembling, processing, fabricating, making, or milling tangible personal property for profit. It also includes establishments engaged in assembling component parts of manufactured products. All manufacturing property is assessed by the Wisconsin Department of Revenue. Manufacturing real property represents about 3% of the total assessed valueAn estimate of value assigned to taxable property by the assessor for purposes of property taxation. State law requires all assessments periodically be within 10% of market value. Assessed values most closely reflect market value following a revaluation. In non-revaluation years, assessments typically reflect a fraction of market value due to the changing real estate market. of the city.