2025 Property Tax Base of the City of Madison

The City Assessor is responsible for the assessment process including:

1. Discovering all real and personal property that is subject to tax unless exempted by law;
2. Listing all property characteristics used to determine value; and
3. Valuing all property subject to property tax.

Creating and maintaining an accurate assessment roll (list of all taxable property: address, value, and owner) fulfills the first requirement. Sustaining property record cards with correct characteristics and information satisfies the second requirement. Accurate valuation, the final requirement, entails estimating the market value of all locally assessable property in the City. These values are used when establishing property taxes in December. Please see the Assessor's Office for more information.

In Madison, all property is valued annually at 100% of market value as of January 1. There are several types of real property, including single family homes, condominiums, apartment buildings, commercial, and agricultural properties. Real property is assessed by the City Assessor and represents approximately 99% of the property tax base. The remaining 1% of the tax base is manufacturing property valued by the Wisconsin Department of Revenue.

Real Estate Changes

Locally assessed real estate increased 9.1% for 2025. Commercial assessments increased 10.9% and residential assessments increased 8%. New construction accounted for over $1 billion of the base value. Steady growth and continued development contributed to the increase.

Recap of Local Changes

A report is available including tables that focus on the compositions and rates of locally assessed real estate growth.