MADISON, Wis. — Opponents of
a Republican proposal to eliminate the tax on business equipment
say Wisconsin homeowners would see their property taxes increase
to make up for the lost tax revenue.
Proponents say the bill would spur business growth and help
create jobs. The bill's co-sponsor, Rep. Robert Kulp, says the
equipment tax is a burden on some businesses which need to keep
an extra set of books to track taxable property.
An analysis from the bipartisan Legislative Fiscal Bureau shows
taxes on an average home would increase 2.7 percent, or $80
dollars annually to make up for the lost revenue while keeping
the current level of services. Overall, Wisconsin homeowners
would see property taxes increase by $270 million a year.
The State Journal says real estate agents and local government
officials say the shift in the tax burden is unacceptable.