Governor Braun plans property tax relief amidst Madison tax discussions

The City of Madison Common Council convened on May 6, 2025, to discuss various financial matters, primarily focusing on property tax implications stemming from recent legislative changes. The meeting addressed the potential impact of the Senate Enrolled Act on local real estate taxes, with council members seeking clarity on how these changes would affect taxpayers.

During the discussions, it was noted that the overall increase in property taxes would be relatively small. One council member estimated that for a home valued at $150,000, the tax increase could be approximately $13 per year. This estimate was provided in the context of ongoing efforts by Governor Braun to offer property tax relief, which may include credits on tax bills.

The council also examined the current tax environment in Madison, highlighting that the tax rate is currently around $3.10. It was emphasized that most owner-occupied homes are capped at a 1% tax rate, meaning that any additional rates imposed would not significantly alter the tax bills for these properties. The discussion clarified that while residential properties would likely remain unaffected, second homes, rentals, and commercial properties might experience slight changes.

Council members acknowledged the complexity of the tax system, particularly regarding how circuit breaker credits are allocated across the county. They indicated that definitive answers regarding tax impacts would not be available until late December when the Department of Local Government Finance finalizes the budget order.

In conclusion, the meeting underscored the council's commitment to understanding and communicating the implications of tax changes to the community, while also navigating the complexities introduced by recent legislation. Further updates and clarifications are expected as the budget process unfolds.