Green Bay's Top Taxpayers List Adds New Housing Developments
Two new housing developments have entered Green Bay's list of top 10 property taxpayers for 2025, according to the city's annual financial report.
Two new residential developments have joined the ranks of Green Bay's largest property taxpayers, according to the city's 2025 Annual Comprehensive Financial Report. The city's total assessed property value increased to $8.71 billion last year, up from $8.65 billion in 2024.
Despite the overall city growth, the combined assessed value of the top 10 taxpayers fell by about $10.7 million to $543.5 million. The Green Bay Press-Gazette reports this decrease stemmed from significant valuation drops for two long-standing paper companies, Georgia-Pacific and Green Bay Packaging. Paper firms and a major hospital continue to dominate the top five positions.
Shifts in the Top Ten
The list saw notable movement in its lower half. The most significant change was the arrival of two major housing projects. Their inclusion reflects ongoing development activity within the city.
Georgia-Pacific's valuation fell to $77.3 million, a $12.7 million decrease from 2024. Green Bay Packaging's assessed value dropped to $70.4 million, a nearly $4 million decline. These reductions did not alter their second and third place rankings, respectively. The top spot remains held by BayCare Aurora LLC, owner of Aurora BayCare Medical Center, with an assessed value of $178.4 million.
New Entries: Housing and Industry
The Fort at the Rail Yard, a 233-unit mixed-use apartment and retail complex, debuted on the list. It welcomed its first tenants in January 2025 after a six-year development process. Of its units, 187 are designated for reduced rent for families earning less than 60% of the area median income.
Another new entry is the Elevate at Baird Creek student housing complex. Located on the former JBS packaging plant site, the project includes more than 200 units. Development began in 2017, stalled, and was later completed by Toonen Properties starting in 2021.
New industrial facilities also joined the ranking. Carnivore Meat Company entered the list following the 2023 opening of its $55 million production and warehouse facility in the Grandview Industrial Park.
The Full 2025 Top Ten List
The city's report provides a detailed breakdown of the largest property owners by assessed value.
| Rank | Entity | Primary Use | Assessed Value |
|---|---|---|---|
| 1 | BayCare Aurora LLC | Hospital & Medical Clinic | $178,396,200 |
| 2 | Georgia Pacific | Paper Mill & Related Properties | $77,305,200 |
| 3 | Green Bay Packaging | Paperboard Mill & Operations | $70,445,400 |
| 4 | Procter & Gamble Paper Products, Inc. | Paper Mill | $56,096,700 |
| 5 | Schrieber Foods | Office, Production & Distribution | $39,767,400 |
| 6 | NGP VI Green Bay WI LLC (VA Clinic) | Veterans Affairs Outpatient Clinic | $35,912,900 |
| 7 | Carnivore Meat Co. | Pet Food Manufacturing | $22,338,900 |
| 8 | The Fort at the Rail Yard | Apartments & Retail | $22,257,700 |
| 9 | Leicht Transfer & Storage Co./RGL Logistics | Transportation & Shipping | $20,596,100 |
| 10 | Elevate at Baird Creek | Student Housing | $20,426,500 |
Established Giants Hold Firm
While new developments entered the list, established industrial and healthcare giants maintained their stronghold. BayCare Aurora's property alone constitutes 2.05% of the city's entire $8.7 billion assessed value. Schreiber Foods, with its downtown headquarters and Mills Street facility, holds the fifth position.
The report indicates Georgia-Pacific's valuation has seen a continued steep decline from $140.9 million in 2023, likely linked to the closure of its Day Street Mill in September 2023. That mill is now listed for sale. Green Bay Packaging, a 93-year-old company, has invested in major upgrades including a new paper mill.
