(The Center Square) – A new report says even with a $22 million tax hike, Madison’s fiscal troubles will continue.
The Wisconsin Policy Forum released the report that says referendum, which voters will decide next month, would close Madison’s budget gap for 2025. But the report says Madison will once again be looking at a deficit as early as 2026.
“At best, the November referendum represents an opportunity for taxpayers to buy the city some time to work out other solutions. The city, for example, could seek service sharing or other partnerships with neighboring communities or Dane County that could either help to control costs or bring in additional revenue. Aggressive development to help resolve the city’s housing crisis would also bring over time some additional property tax revenue under state limits, but only a very small amount,” the report states.
The Policy Forum report says one of the problems is Madison spends more than most other cities in Wisconsin, and it is struggling to keep up with those costs.