Madison board proposes swapping property tax for income tax

The Madison Local School District may ask voters in November to replace a 7.5-mill property tax with a 1.5% earned income tax. The switch aims to raise more revenue—$6.27 million annually versus $2.94 million—and ease the burden on retirees. Officials say the change is needed to stabilize finances, as the district ended the fiscal year with only two days’ cash reserves. Even with the new tax, further budget cuts may still be necessary.