How does the city of Madison (WI) calculate assessment value? What does it reflect?
The city website indicates it uses “fair market value,” but the tax form often lists a higher “fair market” than the assessment so I’m puzzled about how that is accurate. I’m seeing a wide divergence between the assessment and the listing price; sometimes they’re about even, but I’ve seen a few houses listed at twice the assessment when the improvements were included in the previous year’s assessment. Why?? Thanks!
