Tuesday, December 13, 2011 - 5:13am
City Portion on an Average Home Increasing 3.7%
The city portion of taxes on an average Madison home is increasing 3.7%. The total levy increase on the average home is 2.71% this year compared to nearly 6% in 2010. The Madison Metropolitan School District, Dane County, Madison College and the State also collect funds from local property taxes.
"One goal in developing our 2012 budget was to minimize any increase in city property taxes for homeowners, recognizing that many of our citizens experienced reduced pay this year, or lost their jobs," said Madison Mayor Paul Soglin. "At the same time, it was important to preserve vital city services, and I think we did that."
This year the city faced unprecedented cuts in revenues from the State of Wisconsin. The largest decrease was in State Shared Revenues, which dropped $1.6 million (a 25% cut). Of the ten largest cities in Wisconsin, Madison ranks second in population, but eighth in the amount of shared revenue. For example, the City receives less than half of what Green Bay receives and less than 1/30th of Milwaukee's distribution.
Mayor Soglin said, "In spite of these challenges, we were able to put together a budget that met our goals and funded new initiatives in our neighborhoods. I commend the Dane County Board and the Madison School Board for also meeting these funding challenges head on."
Statements for 2011 property taxes are being mailed to residents this week.
- Katie Crawley608-266-4611