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Income and Expense Request Explanation and Frequently Asked Questions

The City of Oshkosh is conducting a revaluation of all commercial properties for the 2025 assessment year.

Wisconsin law requires that the Assessor consider all real estate valuation methods. One of the methods that we utilize in determining the fair market value for commercial properties is the income approach. To achieve accurate and fair values, it is imperative that we compile market rental and expense information for commercial properties within the municipality.

If you are a commercial property owner, you should receive a letter with an income and expense form and accompanying information. Please take a few moments to complete the enclosed income and expense form as it pertains to your property. Alternatively, you may provide rent rolls and internal operating statements in lieu of completing the requested form, but please take the time to ensure those reports provide all the information requested. A self-addressed envelope is enclosed for your convenience or you can email the completed form or internal reports to DPeters@oshkoshwi.gov. A fillable PDF version of the enclosed form is available on the City of Oshkosh website at https://www.oshkoshwi.gov/assessor/assets/pdf/COMM_APT_Income_Expense_Form.pdf

We request that you complete and return the form to us by Monday, August 4th, 2025.

Pursuant to City Ordinance, the information you supply on this form is CONFIDENTIAL and is not available for public inspection or open records requests.

It is important to note that failure to supply this information may result in loss of your right to contest your assessment at the Board of Review. This form is for income and expenses attributed to the real estate only. Please do not include any business income and expenses, as they do not apply to the real estate value. If the above property is owner-occupied and does not generate rental income, please write the words “owner occupied” at the top of the form and return it as requested.

In addition to the above, please feel free to submit any other information that you feel would be beneficial in assisting us in placing a fair and equitable value on your property (e.g., appraisals, listing contracts, deed restrictions, etc.).

Thank you in advance for your cooperation. If you have any questions, please do not hesitate to contact the City Assessor by phone at (920) 224-8803 or by email at DPeters@oshkoshwi.gov.

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What is this information used for?

• The City of Oshkosh is in the process of completing a revaluation as of the effective assessment date of January 1, 2025. There are three major methods to valuing property: cost, market, and income. Your returned income and expense form will help to provide information necessary to complete this process.

Is this a mandatory form?

• This form is not mandatory; you are not required to provide the information requested on this form. However, this information will assist the Assessor’s Office to determine a valuation of your property based on the income approach. Please be aware that if you fail to supply this requested information, it may result in the loss of your right to contest your assessment at the Board of Review, in accordance with Wisconsin Statutes 70.47(7)(af).

Is this information confidential?

• Pursuant to City Ordinance, the information you supply on this form is CONFIDENTIAL and is not available for public inspection or open records requests.

Will this be used in my assessment?

• The assessor will use the supplied information, as well as consideration of similar properties and market data, to assist in the revaluation of all commercial properties. Your actual supplied information will be reviewed to further support your assessment.

I own and occupy this property?

• If you are an owner of the property as well as the operator of the business, please write across the front that this is owner occupied and complete the operating expense section as is applicable and return back to the Assessor’s office.

When will the values be completed?

• A time table has not formally been established for the completion of the revaluation. We do hope to be completed in August 2025.• A time table has not formally been established for the completion of the revaluation. We do hope to be completed in August 2025.

Can I send in a rent roll or internal reports?

• You may send a current rent roll as of December 31, 2024 and internal operating statements in lieu of completing the requested form but please take the time to ensure those reports provide all the information requested.

Can I send the IRS form for business expenses?

• You may send the same forms you send to the IRS with rental and expense data. Often this will save time for both parties in relaying information.