Final Property Tax Figures for 2014-15 Show 2.3 Percent Drop
Wisconsin Ag Connection - 07/17/2015
Total property taxes in Wisconsin fell by 2.3 percent to $9.32 billion in 2014-15, according to final levy figures recently released by the state. That was the first drop since 1996-97.
The Wisconsin Taxpayers Alliance says these figures are from the latest report on tax revenues. The agency says after rising over the prior decade to 4.2 percent of income in 2010-11, Wisconsin's property tax burden now stands at 3.6-percent--the lowest since 1946.
By type of government, town levies increased the most at three percent, followed by the state at 2.4 percent. School taxes increased 1.3 percent to $4.76 billion. A 48.9 percent drop in technical college taxes explains the overall drop in levies, according to WISTAX.
In 2014, the governor and legislature increased state aid spending for technical colleges by about $400 million to buy down the colleges' levies from $797 million to $407 million. Combined with state-imposed revenue limits on the 16 tech college districts, the jump in state aid forced down their property taxes.