MADISON, Wis. – State Representative Dan Knodl (R-Germantown) and State Senator Duey Stroebel (R-Saukville) announced that they will be re-introducing legislation to eliminate the personal property tax in Wisconsin.
“Now more than ever, it is time to end the personal property tax in Wisconsin,” said Rep. Knodl. “Our small businesses are struggling to stay open and find employees, yet they continue to find themselves diverting their attention to the complicated task of complying with this burdensome tax. At the same time, municipalities often find themselves spending more resources to administer this tax than they end up collecting in revenue. There is absolutely no reason for this tax to exist anymore, and the time has come to bring it to the swift end it deserves.”
“This bill is a win-win for businesses and local governments,” said Sen. Stroebel. “All of our neighboring states recognized this and have already eliminated the personal property tax in their jurisdictions. This proposal enjoys strong, bipartisan public support, and I am confident that our Main Streets won’t be paying personal property tax a year from now.”
Wisconsin’s tax on personal property requires businesses to pay property tax on items such as furniture, equipment, and boats. The tax has proven increasingly unpopular with both businesses and municipalities due to its time-consuming and inefficient method of assessment. Under the proposed legislation, the state would reimburse local governments for any lost revenue.
2021 Assembly Bill 191, which Rep. Knodl and Sen. Stroebel introduced last session to repeal the personal property tax, passed both houses of the legislature on a bipartisan vote before being vetoed by the governor.
