The report found net property taxes — which accounts for credits to help taxpayers — grew by 4.6% in 2025 to nearly $12 billion, the highest rate since 2008. The forum previously forecasted another increase in property taxes in 2026.
“Limiting property tax growth has lowered the state’s tax burden, but it has also stressed local budgets and services. That in turn has led to a number of referenda to exceed state revenue and levy limits, helping push property tax growth higher in 2025 than previous years,” the report said.
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Madison School Board approves a $668,000,000 budget for 25,557 “full time equivalent” students.