What to know about Wisconsin's personal property tax, why it was cut

Lawmakers are scrapping one of the oldest taxes in Wisconsin's history after Gov. Tony Evers signed legislation June 20. addressing funding for local governments. The 19th century-era tax has been carved out with exemptions for decades, and really accounts for a small amount of the state's total budget, said Wisconsin Policy Forum Research Director Jason Stein.

The bill to repeal the tax, led by sponsors Rep. Tony Kurtz and Sen. Mary Felzkowski, would leave local governments across the state with about $174 million less annually.

Similar to homeowners, businesses receive a tax bill for their buildings and land, but many also are billed for their personal property, such as office supplies and tools.

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