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Madison, Wis. — The Institute for Reforming Government (IRG) issued its fifth policy paper today prior to Governor Evers’ State of the State address. This policy paper details the current state of affairs regarding property taxes and how Wisconsin and other states can improve the lives of homeowners through property tax relief this year.
“Wisconsinites should be able to keep more of what they earn, plain and simple. When the economy started to climb out of the recession Governor Walker knew something had to be done to help homeowners, and so he and a reform-minded legislature were able to provide property tax relief to the tune of over $5 billion since 2011. As this issue is debated in Wisconsin and in other states, IRG encourages states to follow the property tax record leadership in the state legislature is still fighting to preserve.” said Rob McDonald, Chairman of the Board for the Institute for Reforming Government.
Recommendations to reduce property taxes are below and can be found in the property tax one-pager below:
● Remove the tax levy from property tax bills by investing in technical colleges. The Wisconsin Technical College System (WTCS) relies heavily on property taxes, with nearly $450 million (28.5%) coming from property taxpayers in 2017-18. Driving projected surplus revenue into the WTCS would reduce the burden on property taxpayers in Wisconsin.
● Reduce the burden of property taxes on seniors through an increase in the Homestead Property Tax Credit. With over half of the recipients over 55 and more than 33 percent over 65, an investment of surplus revenue to the Homestead Tax Credit would provide property tax relief to those Wisconsinites in need.