Wisconsin lawmakers are considering eliminating the state’s personal property tax, and a vast majority of NFIB/WI members support the effort. While thirty-nine states impose some form of taxation on personal property, a dozen have eliminated the personal property tax or tax very little personal property. Eliminating Wisconsin’s personal property tax would boost the Badger State’s competitiveness with neighboring states, promote economic development, and encourage small business creation and growth.
“The personal property tax in many ways is a small business tax,” NFIB/WI State Director Bill G. Smith testified at a hearing before the Senate Committee on Revenue, Financial Institutions, and Rural Issues. “It is a grab bag of exemptions and definitions that violates the basic principles of tax fairness; simple, cost-effective administration; and low enforcement costs.”
Smith added that elimination of the state’s personal property tax is a top priority for NFIB/WI. According to member survey studies, 82 percent of respondents supported the elimination of the tax, even if lost revenue will have to be replaced with another tax.
Several NFIB/WI members joined Smith to testify.
Amanda Lindemann, NFIB member from Berlin, Wisconsin, told members of the Assembly Committee on Ways and Means the tax has impacted decisions to delay building improvements, purchase new equipment, and hire employees.
Jerry Martell, a Sparta NFIB member, also testified the tax is unfair, inconsistent, and burdensome for his business, directly impacting his ability to hire workers and purchase equipment and grow his business.
Senate Bill 218, introduced by Sen. Duey Strobel, and Assembly Bill 277, introduced by Rep. Bob Kulp, are identical proposals that would eliminate the tax. Please contact your elected officials to request support for passage of this important legislation.