The Madison School Board Mondaynight approved it's preliminary budget for the 2013-14 school year.
The $433.6 million plan carries a property tax hike of nearly 4.5 percent, down from a proposed 7.38 percent eyed in the spring. It works out to a $119 dollar annual increase for the average homeowner in Madison.
Assistant Superintendant of Business Services, Mike Barry, points to a nearly $9 million budget hole due to a decrease in state aid.
This latest proposal includes a one percent pay increase for teachers.
The vote Monday night was 6-1,with Mary Burke voting against the budget.
Final budget approval will come at a meeting in October.