A Madison School District Property Tax Increase Outlook (39% over the next 6 years) including 4 Year Old Kindergarten (4K)

Madison School District 102K PDF:

2009-2010 Adopted: 3.85%
2010-2011 "Projected": 12.22%
2010-2011 "Cost to Continue": 11.82%
2011-2012 "Projected": 8.88%
2012-2013 "Projected": 6.03%
2013-2014 "Projected": 4.47%
2014-2015 "Projected": 3.23%

The document projects that the Madison School District's tax on a "typical" $250,000 home will increase from $2,545.00 in 2009-2010 to $3,545 in 2014-2015, a 39% increase over 6 years. Significant.

The District's total property tax levy grew from $158,646,124 (1998-1999) to $234,240,964 (2009-2010); a 47.6% increase over that 11 year period.

The proposed 2010-2011 budget increases property taxes by 11.8% to $261,929,543

Background:

• Madison School District 5 Year Budget Forecast
• Madison School District Financial Overview:

  1) Impact of State's finance on MMSD finances and budget projections

  We utilized two separate papers from the legislative fiscal bureau (attached) and a presentation given by Andrew Reschovsky to provide detail to the board of education. Unfortunately projections at this point in time are showing a shortfall for the 2011-13 biennial budget of approximately $2.3 million. Without knowing if there will be another stabilization type package to help ease this burden, chances are funding for education and many other State funded programs will be looked at for possible reduction.

Posted by Jim Zellmer at April 2, 2010 4:18 PM
Subscribe to this site via RSS/Atom: Newsletter signup | Send us your ideas