MADISON, Wis. (AP) — Wisconsin’s chamber of commerce is backing a Republican plan in the state Legislature to repeal the personal property tax on business equipment.
The proposal is meeting resistance because homeowners would have to make up for the lost revenue, which comes to about $80 a year for the owner of a typical home.
Wisconsin Manufacturers and Commerce lobbyist Scott Manley said in a statement Thursday that the personal property tax on business equipment is antiquated and needs to be eliminated. He says doing that will make the state more competitive.
Real estate agents and local government officials are urging rejection of the idea, saying the shift in the tax burden is unacceptable.