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October 20, 2013Minneapolis Property Taxes are over 50% less than Madison's on a Similar Home; Mayoral Election Education CommentaryA cynic would be forgiven for wondering whether the press conference Minneapolis mayoral candidate Mark Andrew held Monday afternoon, flanked by five members of the school board, was at least partly an exercise in damage control.Minneapolis plans to spend $524,944,868 (PDF budget book) during the 2013-2014 school year for 34,148 students or 15,364 per student, about the same as Madison. Yet, property taxes are substantially lower in Minneapolis where a home currently on the market for $279,900 has a 2013 property tax bill of $3,433. A $230,000 Madison home pays $5,408.38 while a comparable Middleton home pays $4,648.18 in property taxes. Madison plans to increase property taxes 4.5% this year, after a 9% increase two years ago, despite a substantial increase in redistributed state tax dollar receipts. Yet, such history is often ignored during local tax & spending discussions. Madison Superintendent Cheatham offers a single data point response to local tax & spending policy, failing to mention the substantial increase in state tax receipts the year before: When we started our budget process, we received the largest possible cut in state aid, over $8 million," Cheatham said. "I'm pleased that this funding will make up a portion of that cut and help us accomplish what has been one of our goals all along: to reduce the impact of a large cut in state aid on our taxpayers."A bit more background. Posted by Jim Zellmer at October 20, 2013 12:25 AM Subscribe to this site via RSS/Atom: Newsletter signup | Send us your ideas Comments
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