Posted: Friday, August 17, 2012 --- 4:09p.m.

MADISON, Wis. (AP) -- A new report says property values in Wisconsin have dropped for the fourth straight year.

The Wisconsin Taxpayers Alliance report released this week shows that property values dropped 3.2 percent in 2012. That is the fourth year of declines and comes after a 1.8 percent drop in 2011.

Residential property is the largest category and values there dropped 4 percent after being down 1.6 percent the year before. Manufacturing property was the only category that saw an increase and that was up 1.1 percent.

The report says only seven out of 72 counties saw an increase in property values. The largest drops were in the southeast corner of the state, with Kenosha County leading the way. Its values were down 7.7 percent.

Copyright 2012. The Associated Press.