Again. Taxes are going up much faster than inflation or wages.
In the city of Madison, the total tax bill for the average assessed home in the Madison School District is rising about $374, or 5.8%, to $6,789. That compares to just a $64 increase in 2018, about 1%, which was the lowest percentage increase since 2014. The sums reflect tax bills after the school tax credit is applied but before the state lottery credit, which grew about half as much this year as it did last year, and another credit for building improvements on property are deducted. The city’s new $40 vehicle registration fee, also known as a wheel tax, does not appear on the tax bill.
For this year, every taxing jurisdiction except the state, which has levied no property taxes since 2017, raised property taxes for Madison property owners, with the Madison schools making up the highest percentage and dollar increase, as well as the highest overall tax, a 7.4%, or $245, increase to $3,544 for the average home, now valued at $300,967.