As Madison readies to make final budget decisions, new estimates have decreased the city’s tax base, meaning taxes on the average home will be higher than initially thought.
Mayor Paul Soglin proposed an operating budget in early October, and on Oct. 23 the city’s Finance Committee made amendments and approved a $314.3 million spending plan for next year.
But a lower-than-estimated tax base means the city must raise the tax rate to cover that spending, creating a higher-than-expected hit for the average home.
Madison’s taxpayer supported schools plan to spend nearly $20,000 per student during the 2017-2018 school, despite long term disastrous resding results.