Prior to Governor Walker taking office, property taxes on a median value home had increased 27 percent over a decade. Since 2011 when Governor Walker took office, the typical homeowner has seen a decline of over $100 in his or her tax bill, about a 4 percent decrease. That’s real money.
The long-term structural reforms Governor Walker put in place gave schools and technical colleges throughout the state financial resources and eased the property tax burden on Wisconsin’s homeowners, senior citizens, small businesses, and farmers. In 2014 alone, Governor Walker’s Blueprint for Prosperity provided over $400 million in property tax relief.
In the 2015-17 Biennial Budget, taxpayers come first. With continued prudent property tax controls and additional funding for property tax relief, we are keeping property taxes lower in 2016 than they were in 2010. That’s a big deal – no other state can say that. Governor Walker is committed to holding the line on taxes for our hardworking taxpayers and homeowners.
Property taxes are reduced in this budget by increasing funding for the school levy tax credit by $105.6 million annually in 2016-17. Combined with maintaining property tax controls and school equalization aids, this will ensure that property taxes for the typical homeowner are lower in 2016 than in 2010
This budget also continues protecting property taxpayers by maintaining county, municipal, and technical college levy limits at the greater of zero percent growth or the percentage change in property values due to net new construction.