STRATFORD, Wis (WSAU) — A local lawmaker wants the state’s personal property tax phased out, and now State Representative Bob Kulp has drafted a bill to help get that done.
“We just put the bill draft together this past week,” Kulp said. “We’re kind of watching how the budget process goes before we roll it out, but I would certainly like to see this continue to gain the momentum and traction that it does.”
According to Kulp, the idea’s got a lot of support from the business community. “Personal property tax repeal has a coalition built of grocers, and restauranteurs, and broadcasters, and really I think 30 different associations are part of this coalition.”
The repeal would give Wisconsin companies a competitive break Kulp says. “Personal property tax of course is the kind of tax that is assessed to businesses only, on furnishings and fixtures. Over the years manufacturing, and agriculture, as well as computers have been exempted. As well as all personal property, if it’s not business owned,” Kulp explained.
“We’re one of the only states in the upper Midwest that still has a personal property tax, “the Stratford-based lawmaker said,” and I believe it puts us at a competitive disadvantage.”
Kulp added that as of recently, “It was not in the governor’s budget. I had a conversation with the governor last week about it, and it is the kind of thing we hope will get some traction in a possible overhaul of the tax code.”
The idea would be to “phase out” the tax, so that according to Kulp, “local taxing districts won’t be faced with a cliff of 2% less in taxes.” Kulp also thinks a uniformity clause in the state’s Constitution means that the legislature will have to “thread the needle very carefully to get the job done.”
