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State homeowners surprised by higher assessments

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Just because home values are plunging doesn't mean property taxes are falling.

In fact, many Wisconsinites were amazed to see that the assessed values of their homes actually went up this year and some folks blame that for a bigger than expected tax hike.

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According to state law, homes are assessed according to what they were worth on Jan. 1, long before the mortgage meltdown reared its head.

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