In Sun Prairie, residential and most commercial property is assessed using the market value approach related to the most recent revaluation year. Market value is the price a property might reasonably sell for after adequate time and exposure to an open market when sold by a willing seller to a willing buyer.
Calculating Your Assessment
To calculate your assessment, assessors look at property characteristics such as the size, type, and age of your property, as well as its:
The selling prices of similar properties in the same neighborhood or similar areas are what generate the market value. Your property's market value is determined from a range of probable selling prices, not a specific selling price.