The Wisconsin Department of Revenue released Friday the annual Equalized Value and Net New Construction figures. Equalized Value is based on the fair market value determined by the Department of Revenue on January 1st and published every year on August 15. Net New Construction consists of both buildings built or destroyed in 2013. The City of Cudahy reported $2,361,500 of value due to Net New Construction or .20% of the prior year’s equalized value. Milwaukee County as a whole experienced $507,545,400 or .89% in Net New Construction. Cudahy (.20%), St. Francis (.73%) and South Milwaukee (.51%) all reported a smaller percentage then the overall county. Percentage of Net New Construction is not only an economic indicator but also is a factor in determining levy limits.
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