Posted on 10/11/2013 6:13:11 AM PDT by afraidfortherepublic
MADISON – The tax cuts just keep on coming.
Gov. Scott Walker on Thursday proposed $100 million tax cut for property taxpayers. Walker said he would call a fall special session, and legislative leaders indicate the bill could pass in the next couple of weeks.
“That’s $100 million worth of tax relief for working families, senior citizens, farmers and small business owners all across the state,” Walker said. “For the third consecutive year (homeowners will) see a reduction of property tax levy for the median value home across the state of Wisconsin.”
Walker said property tax cut would be reflected in this year’s tax bill, but the total tax relief would be spread over the next two years.
“The more we looked at, the more we looked at the size of the surplus, we said if we’re going to do it, let’s go big and go bold,” Walker said. “Let’s have dramatic impact on the people of the state when they’re paying their property tax bill.”
The average property taxpayer figures to save $13 this December and $20 next year compared to current law, according to the Legislative Fiscal Bureau.
The $100 million in property tax relief follows a Republican-led budget that passed nearly a billion dollars in total tax relief — including a $650 million income tax cut.
The property tax cut comes out of an expected remaining general fund balance – or budget surplus – of nearly $200 million over the two-year budget.
“It would basically cut that in half,” said Dale Knapp at the Wisconsin Taxpayers Alliance. “It would leave the state with the kinds of balances we had under most of the 2000s.”
In the most-recent budget cycle, state tax revenues came in higher than projected. Still, budget projections can prove to be a harsh mistress in volatile economic times, which is why budget watchers advocate leaving a 3 percent to 5 percent balance in the fund.
“The issue is if they have a $100 million balance on a $15 billion general fund, that’s less than 1 percent,” Knapp said. “If we have income taxes or sales taxes come in under the estimate they’ve got going forward, we could have problems.”
The problem would be turning a large budget surplus into a deficit.
Some Democrats seemed to have another take on the tax cuts.
“Middle-class taxpayers certainly deserve relief after Republicans gave their hard-earned money away to unaccountable private voucher schools, wealthy special interests and a health care plan that costs more and covers fewer people. But it’s questionable at best as to whether the plan Republicans announced today would even do that,” Assembly Minority Leader Peter Barca, D – Kenosha, said in a statement.
Walker announced the special session would also add Tax Incremental Financing districts and historic tax credits for cities.
Property tax relief is coming...
FReep Mail me if you want on, or off, this Wisconsin interest ping list.
He has the dems absolutely flummoxed. This is what we, as a nation, could experience in our future and it would be wonderful!
We are do taxed to death we don’t really realize just how much until we sit down are start taking serious look. All one has to do is open their phone or cable bill and examine it to realize the standard of living is definitely impacted by all the taxes and fees we pay.
We are so taxed to death we don’t really realize just how much until we sit down are start taking serious look. All one has to do is open their phone or cable bill and examine it to realize the standard of living is definitely impacted by all the taxes and fees we pay.
I always use the example of trying to go fishing in Florida to feed your family.
If I want to take my johnboat to a lake I will have to have 5 licenses to do that and all the safety equipment that the state requires. All this comes at a cost of several hundred dollars per a poor slob just wanting to fish.
Probably the biggest boost a state could give to its economy, which would bring in a huge number of high value residents, would be to end to all property taxes, under the following conditions:
1) Only a primary residence would be property tax free, and the owner would have to live there six months plus 1 day out of every year.
2) The land area for the residence would be limited to, for example, 1 to 5 acres. No part of the property could be leased, rented, or mortgaged. Only members of the owner’s immediate family could live there for more than a month.
3) The land and residence would also be exempt from any state inheritance taxes, but not city or county taxes, deposits, levies and fees, though they could not be greater at the city or county level than for similar, non-exempt properties.
4) (As is done in the state of Florida to great effect), the primary residence could not be taken as part of bankruptcy proceedings.
Get all the Dems on record voting against tax relief in the run up to the 2014 election. Still hoping for the elimination of state income tax ahead of the election next year...
(A guy can dream)
The long-term plan should be to dismantle the welfare state as much as possible, to make WI so unattractive to Obama supporters that they move elsewhere.
This should be the plan in all conservative-controlled states. Make the underclass move to states that are already under Dem control, until they overwhelm those states welfare systems.
Now if we could just get Wisconsin to use a little spice in their food.
Well, that should have the faculty at UW-Madison foaming at the mouth.
It already has the Dems foamming. I heard one of them this morning, all bent out of shape, complaining that they met with Walker the day before this announcement and “he didn’t saay a thing about this! Furthermore, it will probably mean only about $13 per homeowner...” Whine, whine, whine.
Well, whatever it is, it’s better than the poke in the eye with a sharp stick that Doyle gave the taxpayers and the property owners with every budget.
Hows that for sticker shock, RATs!!!!
Wisconsin’s success must be driving the scumbag rats crazy.
Thanks for posting. Tidbits like this keep my hopes alive for a better future.
“...it’s better than the poke in the eye with a sharp stick that Doyle gave the taxpayers and the property owners with every budget.”
You got that half right. It WAS a sharp stick...’Nuff said, LOL!
Our Governor Rocks. And while I want to keep him all to myself, I’m thinking President Walker in 2017 might be just what America NEEDS - if there’s anything left to salvage.
His wife will make a terrific, caring, classy FLOTUS, too!
Cheese isn’t a spice?
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