Madison’s proposed budget for 2026 indicates a financial turnaround thanks to new revenue, including property tax dollars from a $22 million referendum approved last November, according to a new report from the Wisconsin Policy Forum.
State aid was also increased, giving Madison a more positive budget outlook than last year, when city officials contemplated increases and cuts to city services if the referendum failed.
The 2026 budget features increased funding for services such as staffing the new library and funding for paramedic staffing.
However, an annual brief on the city budget from WPF found Madison Metro Transit encountering financial challenges, and it will ask for an increase in support from the city’s general fund.
Overall spending is rising at a rate that outpaces core city revenues and the pace of inflation. A statement from the city said the local economy is solid with strong property values, but long-term finances are unbalanced.
