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Madison reports $11.8M City Hall cost, modest sales-tax growth and planned rate study
Summary
A City official reported the new City Hall cost $11.8 million, said sales tax is up 4.6% year-over-year, described property valuation guidance and announced an electric rate study in 2025.
A City official told attendees that the new City Hall and related facilities cost $11,800,000 including furnishings and that the city relies on sales tax revenue, which the official said was up 4.6% year over year at the end of the year.
The official gave context for property taxes, saying property valuations in Lake County rose about 8% but that state rules limit tax increases so "your taxes can only go up a maximum of 3% or the cost of living, whichever is lower, plus growth." They said growth comes from adding new homes in developments and that the mill levy is adjusted by the state to meet the valuation range requirement.
On utilities and rates, the official said an electric-rate study is planned for 2025 and displayed a comparative slide showing Madison "falls somewhere in the middle" on electricity costs among peer towns. The official framed the sales-tax growth as "show[s] that Madison has had positive economic growth."
The presentation combined fiscal context with project updates and emphasized the city's dependence on variable sales-tax receipts while pointing to planned analyses to inform future utility rates.
