The levy imposed on real estate within Madison, Wisconsin, funds essential city services such as public education, infrastructure maintenance, and emergency services. This charge is typically calculated based on the assessed value of the property and expressed as a percentage or mill rate. For example, a mill rate of 10 mills on a property assessed at $200,000 would result in a $2,000 annual tax.
Stable and predictable municipal funding allows for consistent service delivery and long-term planning within the city. Historical rates and their fluctuations can provide valuable insight into budgetary priorities and economic trends. Understanding how these levies are determined, applied, and utilized promotes transparency and informed civic engagement. A well-managed system benefits both residents and the municipality by ensuring financial stability and the continued provision of crucial community resources.