New figures provided by the Madison Metropolitan School District (MMSD) show that its $100 million operating referendum will now cost homeowners only around $40 more in property taxes next year than this year, the Wisconsin State Journal reports.
Owners of an average Madison home, valued at $457,300, paid roughly $4,157 in taxes on the school district’s portion of their tax bills this year. That number will be $4,197 next year if the Nov. 5 operating referendum is successful.
The district had originally estimated a $316 year-to-year increase but is now set to receive much more state funding than anticipated — $61.3 million. Last year, MMSD received around $37.9 million. The increase means that the year after a successful referendum and related increase, school property taxes on the average household would actually drop a few hundred dollars.
