A strong and diverse group of 31 trade and business associations have joined forces with the common goal of repealing Wisconsin’s personal property tax. The “Coalition to Repeal Wisconsin’s Personal Property Tax” consists of organizations representing more than 400,000 Wisconsin businesses employing more than a million employees, as well as thousands of individual taxpayers across the state.“
Collectively, coalition members represent nearly every personal property taxpayer in Wisconsin.” said Michelle Kussow, Executive Vice President of Wisconsin Grocers Association, the founding member of the coalition. “Many of these organizations have been lobbying on the issue for years, hearing from members and watching other states repeal the personal property tax; and felt that now is the time for Wisconsin to repeal this unfair and archaic tax.”
The personal property tax (PPT) is a tax imposed on a businesses’ “tangible” personal property. The tax is assessed and collected by local governments and is in addition to the real estate property tax. The tax has existed since 1849 as part of Wisconsin’s original property tax scheme, and through the years has seen many changes and exemptions. Matt Banaszynski, Executive Vice President of Independent Insurance Agents in Wisconsin said, “Independent Insurance Agents in Wisconsin can be found on main streets all over Wisconsin. Like other small businesses, they pay their fair share of taxes, but support repeal of the personal property tax as a way to invest more in their communities, employees and businesses and pass savings on to their customers.”
“This is an antiquated tax that many other states have eliminated,” said Ed Lump, Wisconsin Restaurant Association President and CEO. “Because it taxes the means of production, it is effectively a tax on expanding your business and creating jobs.” The coalition will highlight the negative impact this tax has on Wisconsin businesses and encourage the Governor and Legislature to repeal the tax. “Personal property taxes are a drag on Wisconsin’s economy and job creation because they effectively penalize investment in new capital assets and economic activity. If our goal is to grow the economy to capture more revenue for schools and other priorities, the personal property tax is a terrible approach,” added Eric Bott, State Director for Americans for Prosperity—Wisconsin.
For additional information on the coalition, contact Michelle Kussow, Wisconsin Grocers Association at 608-210-3304. The coalition can be found at wisconsingrocers.com/ppt, on Facebook at www.facebook.com/RepealWIPPT/ and Twitter at twitter.com/repealppt_wi.