Equalized Ratio: Each year the Department of Revenue analyzes the sales of properties in each assessment jurisdiction. The average ratio of assessed value to sales price is determined for equalization purposes. That ratio, usually expressed as a percentage, is referred to as the equalized ratio or equalizer. Its primary function is for apportionment of taxes fairly among municipalities.

Lottery Credit: Owners of a home in Wisconsin who use the home as their primary residence on January 1 (Certification Date) of the year in which property taxes are levied receive a property tax credit from the State Lottery. The amount of that credit changes each year.

Mill Rate: Also referred to as the tax rate, the mill rate is defined as the tax levy (as determined by the taxing entity) divided by the tax base.