Based on the more favorable general aid numbers, the district on Thursday reduced its 2015 tax levy to a 4.71 percent increase instead of 4.93 percent, a savings of about $6.25 for the owner of the average-priced home in the district, Barry said.
Under the latest figures, the owner of a $245,894 home will pay $2,944 in school taxes, an increase over last year’s tax bill of $105.32, Barry said. Under the old figures, the increase over last year’s tax bill would have been $111.57.
The revised tax levy figures are subject to School Board approval later this month.
While Thursday’s numbers from the state Department of Public Instruction were welcome, they still reflect a loss to the district of nearly $1.9 million in general aid compared to the prior year, Barry said. That’s a decrease of 3.44 percent. District officials had anticipated the decline and budgeted accordingly.
much more on Madison government schools’ property tax increases here.