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June 19, 2012

State Income Tax Collections Per Capita, Madison's 4.95% Property Tax Increase

via Taxprof.

Meanwhile, the Madison School Board approved a 4.95% property tax increase Monday evening.

The Madison Metropolitan School District's Board of Education passed a budget on Monday night for the 2012-2013 school year.

The $376.2 million budget passed late Monday increases overall spending by 0.8 percent, and the levy by 4.95 percent.

Taxes on the average Madison home are expected to increase by approximately $85 a year. The board also decided to dip into its "rainy day" fund to cover additional expenses.

The $376,200,000 2012-2013 Madison School District budget spends $15,132 for each of its 24,861 students. Madison's per student spending is about 45% higher than the Austin, TX school district.

Related: Madison's property taxes flat in 2011 after a 9% increase in 2010.

Posted by Jim Zellmer at June 19, 2012 8:14 PM
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