Sale prices going down in the neighborhood will not be reflected immediately in your assessment. The State allows for a two year sales study and an optional one year sales study. In inflationary times, a two year study helps the taxpayer because sales used are older and therefore lower in value. In deflationary times, a one year sales study helps the taxpayer because it reflects the more recent sales.
The City of Portage has used one year sales studies for 2010, 2011, 2012 and 2013. The City used two year sales studies for 2014-2022.