Ike Knox and Barbara H-McK were the only two votes against putting the City of Madison’s $22 million property tax hike on the November 5 ballot. Here is Ald. Harrington-McKinney:
I am absolutely AGAINST, and will vote NO to any referendum that seeks to increase the levy or burden residents with additional property taxes. [To Mayor Satya] The primary reason for a NO vote on the referendum is that you have lost all credibility in being fiscally responsible in managing our money.
Echoing former mayor Paul Soglin (who always seems the equivalent of the UK’s shadow government), Ald. H-McK wonders why the City hasn’t lobbied Gov. Tony Evers, a Democrat, for some kind of assistance “years ago in preparation for this day.” The alder also indicts “lack of clarity” around funding the mayor’s pet project, bus rapid transit (BRT).
Portraying grant moniesfrom any governmental agency does not make it ‘free’ money. Capital assets require maintenance and repair (operating expenses) whether it’s a building, elevator, fire alarm/suppression system, bridge, road, bus, bus stop, bike path, etc. Any ‘net new’ asset drives maintenance as well as requiring funding (reserves) for future replacement.
A $200 million grant will eventually require funding sufficient capital reserves, which will be a net new obligation for City and taxpayers. When ridership is falling this is a huge risk, and obligation, to citizens. What is the ridership model for the next 5 years, what happens if ridership declines, what are mitigation plans if BRT is under water?
Madison’s well funded k-12 system and city government are seeking substantial 607M+ tax and spending increases via referendum this fall.