Wisconsin Statutes
Wis. Stat. § 70.34 (2026)
Personalty
✓ current as of July 2026
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70.3470.34 Personalty. For assessments made before January 1, 2024, all articles of personal property shall, as far as practicable, be valued by the assessor upon actual view at their true cash value; and after arriving at the total valuation of all articles of personal property which the assessor shall be able to discover as belonging to any person, if the assessor has reason to believe that such person has other personal property or any other thing of value liable to taxation, the assessor shall add to such aggregate valuation of personal property an amount which, in the assessor’s judgment, will render such aggregate valuation a just and equitable valuation of all the personal property liable to taxation belonging to such person. In carrying out the duties imposed on the assessor by this section, the assessor shall act in the manner specified in the Wisconsin property assessment manual provided under s. 73.03 (2a).
70.34 Annotation“True cash value” is not a figure that can be determined by bargaining with the taxpayer, and such an agreement would be void. The unsupported statement of the taxpayer has no probative value. State ex rel. Berg Equipment Corp. v. Town of Spencer Board of Review, 53 Wis. 2d 233, 191 N.W.2d 892 (1971).
70.34 AnnotationWhen there are no actual sales, cost, depreciation, replacement value, income, industrial conditions, location and occupancy, sales of like property, book value, insurance carried, value asserted in a prospectus, and appraisals are all relevant to determination of market value for assessment purposes. State ex rel. Mitchell Aero, Inc. v. Board of Review, 74 Wis. 2d 268, 246 N.W.2d 521 (1976).
70.34 AnnotationA market data or sales approach was proper when 94 percent of machines were leased and only six percent were sold. An income capitalization approach has been used only when no sales exist. Xerox Corp. v. DOR, 114 Wis. 2d 522, 339 N.W.2d 357 (Ct. App. 1983).
70.34 NoteNOTE: The above annotations relate to personal property taxation under this chapter prior to the sunset of the personal property tax under 2023 Wis. Act 12.
Notes of Decisions
Cited in 7
cases, 1939–2006 · leading case: Adams Outdoor Advert., Ltd. v. City of Madison, 2006 WI 104 (Wis. 2006).
Adams Outdoor Advert., Ltd. v. City of Madison, 2006 WI 104 (Wis. 2006). “The questions presented concern how an assessor should arrive at the value of a billboard and what elements of the billboard may be included in the assessment.”
Xerox Corp. v. Wisconsin Dep't of Revenue, 339 N.W.2d 357 (Wis. Ct. App. 1983). “Xerox contends that the Department incorrectly used the market data or sales approach *524 in making its assessment under sec. 70.34, Stats., instead of the income capitalization approach.”
State Ex Rel. Garton Toy Co. v. Town of Mosel, 145 N.W.2d 129 (Wis. 1966). “” Sec. 70.34, Stats., provides: “Personalty.”
State ex rel. Int'l Bus. Machines Corp. v. Bd. of Review, 285 N.W. 784 (Wis. 1939). “Controversies involving such assessments have not been numerous. Most personal property with which assessors are required to- deal is bought and sold, and its true cash value may therefore be fairly determined.”
Cent. Cheese Co. v. City of Marshfield, 109 N.W.2d 75 (Wis. 1961). “Sec. 70.34, Stats., provides in part: *530 “All articles of personal property shall, as far as practicable, be valued by the assessor upon actual view at their true cash value; .”
State ex rel. Berg Equip. Corp. v. Town of Spencer Bd. of Review, 191 N.W.2d 892 (Wis. 1971). “Sec. 70.34, Stats., provides that personalty shall be valued at “true cash value.”
Grotto v. City of Lake Mills, 442 N.W.2d 487 (Wis. Ct. App. 1989). “The remaining question is whether that method of assessment complies with sec. 70.34, Stats. We conclude that it does.”
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