Tuesday, July 22, 2008

“Net property taxes in Wisconsin rose 5.7% in 2008”

Hmmmm…. I wonder how much personal income will go up this year...

Net property taxes in Wisconsin rose 5.7% in 2008, the largest increase since 2005, the year before the recent levy limits on municipalities and counties were imposed. A new report from the Wisconsin Taxpayers Alliance (WISTAX) found that while gross property taxes climbed 6.2%, state lawmakers increased the school levy credit $79.3 million to $672.4 million to lessen the impact on property taxpayers. The new study, “The Property Tax in National Context,” notes that 2006 property taxes here were ninth highest nationally and higher than those in all surrounding states.

According to the new study, school levies rose the most, 7.4%. With the recent state budget delayed until October 2007, school aids were unchanged from 2006-07. Since school property taxes are tied to state aids through state-imposed revenue limits, the budget delay resulted in higher school property taxes, WISTAX said. Now in its 76th year, WISTAX is a nonprofit, nonpartisan public-policy research organization dedicated to citizen education.

County and municipal levy increases were limited by state lawmakers to the greater of 3.86% or the increase in property values due to new construction. There were exceptions to the limits, particularly for new debt service. The WISTAX report noted that, with a slowing real estate market, statewide net new construction growth was 2.5%. However, municipal property taxes climbed 5.0%, and county levies were up 4.5%.

(8) Comments
Posted by Owen at 2218 hrs
Politics + Politics - Wisconsin

  1. Doyle must be smilin’.

    Posted by .(JavaScript must be enabled to view this email address) on July 23, 2008 at 0759 hrs


  2. I am SO glad we made our great escape.  $2500 for a postage stamp yard vs $700 for over 3 acres and a MUCH nicer house?  Oh yeah….wise move.  Peacocks and all.

    Posted by Kate on July 23, 2008 at 1502 hrs


  3. So, where’d ya go , Kate? Seriously thinking of leaving Tax Hell. Tried down South for a while but couldn’t take the heat and the AC bills.

    Posted by .(JavaScript must be enabled to view this email address) on July 23, 2008 at 1528 hrs


  4. I just returned from Richburg, SC.

    I looked at a 5 bedroom house on 5 1/2 acres, with a creek running through the property.  The house has 3 1/2 baths, with one being a Jacuzzi suite.

    $172,500.  My house in the Falls, which is on 1/2 acre, 3 bedrooms, 2 baths, and no finished basement or attic.
    The house 2 down from me, which is basically the same just sold for $162,873.

    Now here is the kicker.  The property taxes on my house in the falls is $2963.00.

    The property taxes on the house in SC, is $545.00.

    I had to ask 3 times to make sure I heard correctly.

    As far as the heat, and the AC bills, July and August are the only months you really need AC.  And they average 1/2 of snow a year.  Sounds good to me.

    Good bye Wisconsin…

    Posted by .(JavaScript must be enabled to view this email address) on July 23, 2008 at 1602 hrs


  5. bajaskier….would ya be opposed to the MID south?  smile  We’re in Tennessee now.  And yeah….it’s a bit on the warm side, but think of it this way….we actually get FOUR whole seasons here.  smile

    Posted by Kate on July 23, 2008 at 1655 hrs


  6. How about some facts—http://www.taxfoundation.org/files/statespendingperh-20080130.pdf.

    According to the tax foundation, state spending in Wisconsin ranks at 25—dead center, In fact per capita spending is lower than the national average. The tax hell thing is BS at its worst.

    Posted by .(JavaScript must be enabled to view this email address) on July 23, 2008 at 2001 hrs


  7. When are Keith Schmitz and Jack Lohman going to condemn Obama for taking all of the money from private people instead of their cherished public financing?
        I thought they wanted change.

    Posted by .(JavaScript must be enabled to view this email address) on July 24, 2008 at 2123 hrs


  8. How is one meant to cope with the property market downturn with such taxes regularly increasing at this rate? Doesn’t the government realise its bad for the property market?

    Posted by sell property for cash on August 09, 2008 at 1436 hrs


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