Senate Bill 813 proposes amendments to various statutes concerning the assessment and taxation of real property that includes buildings, improvements, or fixtures but does not include the underlying land. The bill mandates that local assessors or real property listers create separate tax parcels for such properties, ensuring that property tax assessment rolls reflect the latest records from the register of deeds. Additionally, it establishes that transactions involving interests in these properties are generally invalid unless they are documented through a conveyance that meets existing legal requirements for land transactions. The bill also requires the recording of ownership interests and conveyances in the county real estate records index.

Key changes include the creation of new sections that outline the responsibilities of assessors and real property listers in verifying ownership declarations and maintaining accurate property descriptions. The bill amends existing statutes to clarify that real property assessments will include buildings, improvements, and fixtures, and it specifies the necessary legal descriptions for property transactions. Notably, it introduces provisions for the recording of ownership interests in parcels that consist solely of buildings, improvements, or fixtures, thereby enhancing the clarity and efficiency of property tax assessments and real estate transactions in Wisconsin.

Statutes affected:
Bill Text: 70.17(1), 70.17, 70.17(3), 70.23(title), 70.23, 70.23(1), 70.23(2), 74.57(4)(b)1, 74.57, 75.12(2), 75.12, 75.521(3)(am)1, 75.521, 77.21(1m), 77.21, 706.001(1), 706.001, 706.02(1)(b), 706.02