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Madison Area Technical College District Board
Adopts
Property Tax Mill Rate and Levy for 2006
At its October 19 meeting, the Madison Area Technical College
(MATC) District Board voted to levy a property tax levy of $74,977,293.
The board established a mill rate of 1.26664, a decrease of 3.49%
from last year’s mill rate of 1.31242. For each $100,000
of value, property owners will pay approximately $126.66, or $4.58
less than last year, to support MATC.
A $169 million budget for
2005-06 was approved by the board in June. The board finalizes
the mill rate each October based on actual
equalized property valuation assessments, which this year increased
10.24%. Property taxes fund less than one-half of the college
budget. Other funding sources include state aids, student tuition
and fees,
and federal funds.
“MATC’s budget responds to emerging workforce development
needs in the communities we serve, while keeping property taxes
well under the state’s 1.5 mill rate limit on technical colleges,” states
Kevin Myren, MATC chief finance officer. “Our budget continues
a major expansion of nursing programs at MATC campuses, adds faculty
to reduce student waiting lists in high-demand programs, enhances
the college’s diversity efforts, and promotes academic success
for all of our students.”
Myren also noted that MATC receives
less than 7% of the average property owner’s tax payment, even though state aid to the
district has steadily declined from about 20% of MATC’s operating
budget ten years ago to 12%.
Madison Area Technical College 2005-06* Budget Summary
| |
2004-2005 |
2005-2006 |
Property tax per $100,000 value |
$131.24 |
$126.66 |
| % change from prior year |
-3.72% |
-3.49% |
| Mill rate |
1.31242 |
1.26664 |
| % change from prior year |
-3.72% |
-3.49% |
| Total expenditures |
$161,860,000 |
$169,458,500 |
| % change from prior year |
4.62% |
4.69% |
| Total tax levy |
$70,467,595 |
$74,977,293 |
| % change from prior year |
5.83% |
6.40% |
*The MATC fiscal year runs July 1 to June 30.
MATC is one of the largest of the
Wisconsin Technical College System’s
16 colleges. It provides a comprehensive curriculum of technical, liberal arts
and science, adult basic education and life enrichment studies and activities,
as well as customized employee training. It awards associate degrees, vocational
diplomas and certificates, and offers non-degree courses. The college serves
all or parts of 12 counties located in southcentral Wisconsin and offers instruction
through five campuses and various other locations throughout the district.
# # #
Last
Modified:
October 21, 2005
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