Memo to State Legislators:
Two business property tax hike bills are being routed for co-sponsorship at the Capitol and WMC is opposed to the business tax hike. We respectfully request that you decline to co-sponsor the tax hike plans LRB-0372 and LRB-0373.
The legislation will dramatically change how property is valued in Wisconsin. This so-called “dark store” legislation would make it easier for property tax assessors to include other variables – outside of property size, location and structures – to determine the value of a building.
In fact, some overly-aggressive assessors have already tried doing this with larger retail stores and restaurants, leading to massive tax increases. In some cases, retailers saw their property tax bill increase by over 500 percent!
Thankfully, the courts have been on the side of property taxpayers and have overturned many of these unwarranted increases. This legislation would fly in the face of current law, overruling what the courts have said. This could dramatically increase the cost to do business in Wisconsin, but it could also have unintended consequences for all property owners.
Wisconsin has improved our business climate in recent years but the tax hike is a big step backward.