Mayor Satya Rhodes-Conway today called on the Governor and Legislature to quickly enact legislation to provide Madison residents and businesses financial relief by waiving interest and penalties for deferral of property tax installment payments.

“Our residents and businesses are pleading for relief from these unprecedented economic conditions.” said Rhodes-Conway. “The Governor led the way by providing emergency relief from late payments of utility bills. The Legislature needs to follow suit to waive interest and penalties for late property tax installment payments.”

The property tax payment process for all taxing jurisdictions in Wisconsin, including interest and penalties for late installment payments, is set in state law. “We want to give our residents the financial flexibility they need to help weather the severe economic conditions brought on by this unprecedented public health emergency,” said Mayor Rhodes-Conway, “but we cannot act without a change to state law.”

City of Madison ordinances allow property taxes to be paid in four installments. State law only allows changes to those ordinances prior to the year property taxes are collected. State law requires that interest at a rate of 12 percent annually be charged on late payments; waivers are not allowed. The next property tax installment payment is due March 31.