K-12 Tax & Spending Climate: Declining Madison Commercial Property Values

Dean Mosiman:

Hotels, restaurants, taverns, gyms, live entertainment venues, movie theaters, and some retail establishments, as well as properties located in specific geographic locations such as State Street or Capitol Square damaged by summer protests, were impacted most, Drea said. Some businesses, such as grocery or liquor stores, have maintained strong sales, she said.

“Recent property tax data shows the success of our business community was driving the increase in Madison’s tax base prior to the pandemic,” said Zach Brandon, president of the Greater Madison Chamber of Commerce. “When our businesses struggle, it affects our ability to fund city services. This is another example of why our local leaders need to take concrete steps to build public confidence and help businesses recover.”