What is the assessment cap for non-agricultural land per Wisconsin law?

The assessment cap for non-agricultural land in Wisconsin aligns with the principle that properties should be assessed based on their market value without a predetermined monetary cap. This means that assessors are instructed to value non-agricultural land according to current market conditions, allowing for a flexible and accurate reflection of property worth. This approach supports fairness in taxation, ensuring that property owners pay taxes proportional to the value of their assets as determined by the real estate market.

In contrast, the other options suggest specific maximum values that do not apply under current laws, which would restrict the assessment process, potentially leading to inequities and inaccuracies in the taxation system. By permitting assessments based entirely on market value, Wisconsin law promotes a dynamic assessment process that can adapt to changes in the economy and real estate trends.