2025 Budget Outlook
The content of this webpage was developed in 2024 to provide information on the City’s structural deficit, property tax levy referendum, and outlook for the 2025 budget. This page is being maintained as a repository of the plans, presentations, and informational materials shared throughout the public engagement process.
To learn more about the outcome of the referendum and final budget decisions, review the 2025 adopted budget.
To learn more about ongoing monitoring of the 2025 budget, key updates will be posted to the “Resolutions and Presentation” section of the 2025 budget webpage.
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A Sustainable Long-Term Plan for Madison’s Budget
At the July 16 Common Council meeting, Mayor Rhodes-Conway outlined two potential paths for the 2025 budget. The Mayor and Finance Director David Schmiedicke also answered questions from Alders about the city’s finances and provided details about pursuing a property tax referendum.
More information is available on the Impact of the Referendum on the Average Value Home
Frequently Asked Questions
Information Series on the 2025 Outlook
The Finance Department recorded a four-part series to explain the fundamentals of the City’s budget and options for closing the budget deficit. A fifth part to the series is an explanation of property assessments and property taxes, prepared by the City Assessor and Finance Department. One goal of the series is to provide a general understanding of the overall City budget as a first step, followed by an explanation of what has been termed the “structural deficit”. This informational series is a first step toward deciding on an approach to balancing next year’s budget.
Part 1: Budget Foundations
- Understanding the City’s fund structure & main components of the operating budget
- Presentation | Recording | Summary
Part 2: The Structural Budget Deficit
- Internal and external factors driving the deficit
- Presentation | Recording | Summary
Part 3: Budget Balancing Strategies – Expenditures
- Impact of personnel costs and debt service
- Presentation | Recording | Summary
Part 4: Budget Balancing Strategies – Revenues
- Options for raising local revenues, special charges and the property tax
- Presentation | Recording | Summary
Part 5: Property Assessments and Property Taxes
- Understanding the difference between how a property is assessed and how property taxes are calculated
- 2023/2024 Distribution of Property Taxes
- Frequently Asked Questions
- Preguntas frecuentes: Nueva construcción, valor tasado e impuestos
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Budget Data
Below you will find datasets for the major phases of budget development. Datasets include General and Library fund amounts across agencies and by revenue or expenditure type.
Public Meetings
Staff will be presenting information to the Common Council and Finance Committee throughout 2024. Public notices of the meeting schedule and agendas can be accessed on the City’s Meeting Schedule Website. Members of the public may register to speak during public comment, or may submit written comments to the Common Council or Finance Committee. Recordings to recent meetings will be linked below, and can be found on the Madison City Channel.
February 13: Common Council Presentation
- Presentation
- Recording (beginning at 1 hr, 19 min)
- Legistar File 81870
March 5: Common Council Discussion
- Presentation
- Recording (beginning at 2 hr, 31 min)
- Legistar File 82316
March 5: Presentation on City Finances from the Wisconsin Policy Forum
- Presentation
- Recording (beginning at 1 hr, 22 min)
- Legistar File 82356
May 1, 16, 29, 30, June 5: Common Council Community Budget Conversations
Other Referenda
Other municipalities in Wisconsin also face these challenges. Since November 2022, there have been 65 municipal levy limit referenda, and more are under consideration.
Explore the interactive map below to see more.