If you own a home in Madison or elsewhere in Dane County, chances are you’ve already received your updated 2026 Notice of Assessment in the mail.

For the City of Madison, assessment notices were mailed on May 1 and posted online May 2. Other Dane County municipalities follow similar timelines, although dates and procedures can vary slightly depending on where you live.

If you’re like many homeowners, you may be wondering:

“What does this actually mean for my home’s value?”

Before you panic, or celebrate, here are a few important things to keep in mind as you review your notice.

“Assessed Value” Does Not Always Equal “Market Value”

In reality, there are several different types of “value” in real estate:

• Assessed Value → used for taxation purposes
• Appraised Value → determined by a licensed appraiser, typically during the financing process, to help a lender confirm the home’s value
• Market Value → what buyers are actually willing to pay
• List Price → a strategic pricing decision based on current market conditions

In other words, your assessment is only one piece of the puzzle.

Regarding Assessed Values : We’re Currently in the “Open Book” Period

Right now, homeowners have a short opportunity to review their assessment records and verify that the information on file is accurate.

For the City of Madison, the Open Book period ends May 15, 2026.

You should review details such as:

• square footage
• bedroom count
• bathroom count
• finished living space
• overall property characteristics

If the information is accurate but you still disagree with the assessed value, you must formally file an objection with the Board of Assessors no later than 4:30 PM on May 15, 2026. 

Here is the contact information for The City of Madison and additional resources about that objection process:

City of Madison Assessor’s Office

openbook@cityofmadison.com
608-266-4531

Additional information and appeal resources can be found here:
https://www.cityofmadison.com/assessor/annual-process/open-book-appeals

Annual Assessment Process (Video Overview): https://www.cityofmadison.com/assessor/annual-process

All That Said, What Is Your Home Actually Worth to Buyers in Today’s Market?

As we mentioned above, an assessed value doesn’t necessarily reflect what a buyer would pay for your home. The assessor also created their estimate months ago!

Buyer demand, neighborhood trends, inventory levels, condition, updates, school districts, and interest rates all play a huge role in determining true market value.

So, if you’d like a clearer picture of your home’s current market value, we LOVE providing detailed reports which reflect accurate, up-to-date information to homeowners! Simply reach out to us at 608-535-9695 or Info@The608Team.com! We’re here to help!