MacIver News Minute: Higher Property Taxes Mean Higher Rents

The MacIver Report: Wisconsin This Week

Elections have consequences, which is a concept that liberals struggle to grasp. Take the city of Madison for example. It’s trying to figure out why housing costs are out of control. The median rent in the city is now over $1,400 a month, far above what the median household can afford. And those rents keep going up. One guy on the local news just said his rent has gone up 35% over the past four years. Of course, the city has its theories; greedy land developers only building luxury homes is a popular one. Here’s one theory no one in Madison wants to consider. Its residents just voted to approve three referendums this month: one for the city and two for the school district. Combined, those will increase the average property tax bill in Madison by $1,600 a year – about $130 a month – that’s a 25% increase from last year. You’d think at some point, Madison residents would start to see a connection. We’ll see if it comes up next month when property tax bills are mailed out, and the rent increase notices inevitably follow.