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Madison mayor warns proposed property tax reform could cut millions from city budget
Summary
Mayor told the City Council that a proposed state property tax reform could reduce Madison’s property tax revenue by about $2 million across the next three budget cycles and possibly $4–5 million if companion legislation advances; he said he will testify before the House Ways and Means Committee.
Madison Mayor told City Council on Tuesday that proposed state property tax reform would sharply reduce the city’s property tax revenue, potentially by about $2 million over the next three budget cycles and by $4 million to $5 million if related bills pass.
The mayor said the reduction would hit the city’s general fund and could affect parks, police, fire, streets and other local services. “Right now our property tax revenue is just a little over $7,000,000,” he said,…
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