In response to the Legislative Fiscal Bureau report anticipating that the State of Wisconsin will end its’ fiscal year with a significant surplus, The Coalition to Repeal Wisconsin’s Personal Property Tax is asking the Governor and the Legislature to return a small portion of the surplus dollars to the business community by fully repealing the personal property tax.
The coalition wants to applaud Speaker Vos and Majority Leader LeMahieu for their statements calling for the surplus revenue to go back to taxpayers. Businesses are the primary source of tax revenue generated–whether as the taxpayer or tax collector on behalf of the state. Repealing the personal property tax is the most meaningful and equitable way to return the dollars to these taxpaying, mainstreet businesses.
“Now, more than ever, restaurants and all mainstreet businesses need every opportunity to recover from the pandemic’s economic catastrophy,” said Susan Quam, Wisconsin Restaurant Association Executive Vice President. “A full repeal will help restaurants stay in business and remain an important part of their communities.”
“Given the last 18 months of uncertainty, additional COVID related expenses, supply and worker issues and many other unprecedented business issues, returning the tax revenues to businesses by repealing the personal property tax will not only help businesses to continue to climb out of the COVID recession, but will send a message to the business community that the State of Wisconsin has their backs,” said Michelle Kussow, Executive Vice President for Wisconsin Grocers Association.
The personal property tax has existed in Wisconsin longer than we have been a state, and even prior to Wisconsin becoming a territory in 1836. Since then, dozens of exemptions to the tax have been implemented, resulting in non-uniformity with certain businesses taxed and others not as well as specific equipment taxed in one municipality, but not in another.
Repealing the personal property tax is not a partisan issue. The coalition supports the state fully reimbursing municipalities for lost revenue from repealing the tax, which would allow municipalities to be held harmless without having to administer and collect the personal property tax. Municipalities would benefit by not having to assess businesses, businesses would benefit by not having to pay the tax, and citizens in Wisconsin would benefit from the additional revenue that businesses would put into their employees, their businesses and their communities as well as just keeping their doors open.
The Coalition to Repeal the Personal Property Tax was formed in 2015 and consists of 49 statewide organizations, representing nearly every business in Wisconsin and more than a million employees with a single purpose: to repeal Wisconsin’s 150-year old personal property tax. If you have questions, contact Amy Bliss at firstname.lastname@example.org.