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Property Tax Base

Ratio Study Report – International Association of Assessing Officers

The City Assessor's Office contracted with the International Association of Assessing Officers (IAAO) to undertake a Ratio Study of Sales for 2018 and 2019. We are pleased to report that the study revealed a quality reappraisal effort (Madison is in a constant revaluation cycle or interim market update), with both residential and commercial properties appraised within acceptable standards of appraisal level and equity. Practically speaking, this means that an external expert has objectively determined the residential and commercial classes of property are being assessed accurately without inappropriate shifts of the tax burden. We are proud of our work and these results!

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