Madison Reporter

The City of Madison has released its 2025 property tax base report, detailing the assessment process and changes in real estate values. The City Assessor is tasked with discovering, listing, and valuing all taxable properties unless exempted by law. This involves creating an accurate assessment roll and maintaining property record cards to ensure correct valuation.

In Madison, properties are valued annually at 100% of their market value as of January 1. The types of real property assessed include single-family homes, condominiums, apartment buildings, commercial properties, and agricultural land. Real property accounts for approximately 99% of the city's tax base, while manufacturing properties make up the remaining 1%, valued by the Wisconsin Department of Revenue.

For 2025, locally assessed real estate saw a 9.1% increase. Commercial assessments rose by 10.9%, while residential assessments increased by 8%. New construction contributed over $1 billion to the base value. Steady growth and ongoing development were key factors in this increase.

A comprehensive report is available that includes tables focusing on the composition and rates of locally assessed real estate growth.