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Finance Committee approves settlement and refund for property tax appeal covering 2022–23
Summary
The City of Madison Finance Committee unanimously approved Legistar 86805 authorizing a settlement and payment of a property tax refund covering 2022 and 2023; city staff said the refund will be paid to the property owner and allocated to taxing jurisdictions according to statutory shares, with the city's portion estimated at about $81,000.
The City of Madison Finance Committee on Feb. 3 unanimously approved Legistar 86805, authorizing settlement and payment of a property tax refund for tax years 2022 and 2023 and approving entry into a settlement agreement.
The action was moved, seconded and recorded as a unanimous vote. Council President Figueroa Cole presided over the meeting.
The committee heard a brief explanation from Dave Schmidicki, finance department staff, who said the refund will be paid to the property owner and then allocated among taxing jurisdictions on their proportional shares. "Basically the money is refunded to the property owner," Schmidicki said, adding that the school district receives roughly 50%, the city about 37%, Dane County roughly 12% and Madison College about 2%.
Alders asked for clarification about how the allocation works and how the city accounts for the city share under state levy-limit rules. Schmidicki said the city's share — shown in the fiscal note as about $81,000 — can be added to the city's levy calculation in the subsequent year under the state levy-limit law.
Michelle Trejo asked how an assessment error can occur. A city appraiser explained that the parcel at issue is an owner-occupied, high-end headquarters building with few comparable sales in Madison, making valuation difficult. The appraiser said the city engaged an independent expert and concluded the city's prior valuation was too high.
The committee recorded a unanimous vote in favor and moved on to other items on the agenda.
Votes at a glance: Legistar 86805 — approved unanimously.
