MADISON (WKOW) — Gov. Tony Evers, along with two Democratic state legislators, are introducing legislation to repeal Wisconsin's personal property tax. The bill also creates a new state aid payment compensating local governments for lost revenue.
“When I ran for governor, I promised I would cut taxes for middle-class families, and I’m proud to have kept that promise by delivering one of the largest tax cuts in state history in my most recent budget, on top of the $480 million in tax relief for Wisconsin businesses and families affected by COVID-19 that I signed into law earlier this year,” said Gov. Evers. “This legislation will continue our efforts to support businesses and families as they bounce back from the pandemic while ensuring our local governments have the aid they need to remain whole.”
The bill exempts from property taxation all property classified as personal property and fixes a number of problems and unintended consequences associated with 2021 Assembly Bill 191.
State Senator Brad Pfaff (D-Onalaska) and State Representative Robyn Vining (D-Wauwatosa) authored the bill, along with Gov. Evers and the Department of Revenue, and it is currently circulating for co-sponsors.
"The longevity of the personal property tax and constant carveouts have created an administrative burden on small businesses and local governments alike. Wisconsin finally has enough revenue to repeal the personal property tax and hold local governments harmless,” Rep. Vining said in a news release.