All property located in the state, except personal furnishings, clothing and property for which there is a specific exemption, is subject to taxation. Manufacturing, telecommunication and utility properties are assessed by the Department of Revenue while all other property is assessed by the municipal assessor. Exemptions from property tax include:
- Machinery and equipment used in manufacturing
- Merchants' and manufacturers' inventories
- Computer equipment
- Pollution abatement equipment
Property taxes in the Madison Region have net rates from $11 to $25 per $1,000 in property value. These rates should be considered as averages as they can vary within individual communities. The rates vary as the boundaries of other taxing jurisdictions such as school districts and technical colleges do not necessarily align with community boundaries.