News Story

The Madison Common Council has overwhelmingly approved a capital and operating budget for 2026. The adopted City Budget has the lowest tax rate in at least 40 years. The City’s portion of property tax bills will increase by around $2.50 a month or just $30 annually on an average valued home. This is below the rate of inflation and nearly $5 million below the maximum allowed under the state’s levy limit.  

The 2026 Operating Budget includes new funding for several key priorities, including:

• An unprecedented investment in homeless services with $1.7 million in support for the new homeless shelter.
• Staffing for the new Imagination Center, which is scheduled to open in the fall of 2026. This $1.2 million investment will be phased in over two years.
• A 10th ambulance company in the Madison Fire Department. This is needed to maintain our current response times while the City’s population increases by nearly 5,000 new residents each year. The total annual cost will be $1 million starting in 2027.  

The 2026 Capital Budget continues the progress being made to create new homes in Madison. Next year, $17.5 million will be available to fund affordable housing. Additionally, this budget keeps the historic upgrade to the Madison Community Development Authority’s Triangle public housing development on track. Once the project is completed, up to 1,200 new apartments will be built, nearly quadrupling the number of homes at the Triangle site.

These efforts will add to the progress the community has already made to help stabilize the housing market. Since January 1st, more than 1,900 new homes(link is external) have been built in Madison and another 4,690 are currently under construction. This focused effort on housing will help ensure a future where everyone in Madison has housing options and can decide what housing type and neighborhood is best for their family.