A Dane county circuit court judge has ruled that the city of Madison violated state law when it assessed a property at 110 N. Livingston St., according to a Wisconsin State Journalreport. The city intends to appeal the ruling that stated it violated state law by assessing the property at full value while assessing other high-value multifamily commercial apartments significantly below market values.
The 21-page decision by Dane County Judge David Conway ruled in favor of Veritas Village LLC and said the city underassessed other high-value, multifamily commercial apartments but not Veritas Village and that violated the state’s requirement that properties are to be assessed equally. The city was ordered to reduce the assessment to 79.2% of its fair market value and issue a refund of roughly $146,500 in 2019 taxes plus interest.
