MMSD Today

News and information for staff members and the Madison community

Vol. II No. 1 - October 19, 2006

Voters consider school referendum on November 7th ballot

The Madison Board of Education voted unanimously to ask the voters to consider a $23.5 million referendum question on November 7. The single question on the ballot is composed of three parts:

Build a new elementary school in Linden Park on far west side of Madison, west of Highway M. If constructed, the school alleviates overcrowding on the rapidly-growing west side, following the recommendations of the Memorial/West long range facility needs task force. Capacity will be approximately 650 students, dependent on the type of programming selected. The $17.7M in construction expenses will cost the owner of an average-priced home ($239,400 — based on current assessments) about $16.15 more per year for 20 years.
Move financing of the current $2.76 million Leopold Elementary construction project (new cafeteria/ kitchen addition and converting the current cafeteria/kitchen into classroom space) from underneath the revenue cap. Leopold is at 107% capacity, with enrollment increases projected due to growth in the Fitchburg area. Removing this debt from underneath the revenue cap, thus freeing the funding for other uses, will mean an increase of $3.17 per year for 16 years to the owner of an average-priced home. If the referendum fails, the finances for the construction may come from the general operating budget, which could result in cuts to current programs/services offered.
Move the refinancing of $3.1 million from underneath the revenue cap. The refinancing will provide revenue cap relief, thus reducing the required budget cuts by an average of $516,000 per year for 6 years. Consolidation of the loans allows the district to capture a more favorable interest rate and saves $97,000 in interest costs. If approved, the refinancing will cost the owner of an average-priced home $9.89 per year for 6 years.

TOTAL COST: Using the 2007 home assessment average of $239,400 for the City of Madison, the property tax impact for 2007 is $29.21. The actual cost to taxpayers will vary, based on the property's assessed value.

From 1996 to 2006, the school property taxes on the average-priced home in Madison have increased less than 1% ($14), while the average-priced home has increased 80% in value.

For more detailed referendum information, check out the district's website at http://www.madison.k12.wi.us/budget/ref06/

The day to vote on this referendum is Tuesday, November 7

Voters consider school referendum on November 7th ballot

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