Alder Mark Clear
210 Martin Luther King, Jr. Blvd
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
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Coming soon: property tax installments
Nobody likes paying property taxes, but the city is taking steps to make it a bit easier.
On June 4, the Common Council approved my proposal for a four-installment system for property tax payments, something I've been working on for more than three years.
Under the new system, you'll be able to pay on four dates instead of the current two. The deadlines will be January 31, March 31, May 31 and July 31. All payments are made to the City treasurer, instead of having to remember that the second payment goes to the County treasurer. There is no additional cost to you.
If you're one of the over 60% of taxpayers that pay in full by January 31, this change won't affect you.
But for many families and small businesses, the start of a new year is financially challenging. Under the new system, only 1/4, instead of half, of the tax bill is due in January. This helps with cash flow and will keep more folks from falling into the expensive trap of delinquency. A 2012 study by Paul Waldhart of the Wisconsin Legislative Audit Bureau and Prof. Andrew Reschovsky of the UW, La Follette School of Public Affairs concludes that additional installments reduces delinquencies by nearly half.
Installment plans are used by 22 of the 38 largest cities in Wisconsin, including Milwaukee, Kenosha, Racine, Appleton, La Crosse and Wausau, but none in Dane County until now.
A decision will be made later this year whether the new system is ready to go for the 2014 season.
Ald. Mark Clear
I welcome your questions and comments about this or any other city issue. Please contact me at email@example.com or 608-695-5709.
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