The levy imposed on actual property inside Madison, Wisconsin, funds important metropolis companies equivalent to public training, infrastructure upkeep, and emergency companies. This cost is usually calculated based mostly on the assessed worth of the property and expressed as a proportion or mill fee. For instance, a mill fee of 10 mills on a property assessed at $200,000 would end in a $2,000 annual tax.
Secure and predictable municipal funding permits for constant service supply and long-term planning inside the metropolis. Historic charges and their fluctuations can present invaluable perception into budgetary priorities and financial tendencies. Understanding how these levies are decided, utilized, and utilized promotes transparency and knowledgeable civic engagement. A well-managed system advantages each residents and the municipality by making certain monetary stability and the continued provision of essential group sources.