Property Taxes Could Increase 7.2 Percent Under Budget Bill

By: Associated Press
By: Associated Press

A new report released today shows property taxes statewide could increase by up to seven-point-two percent next year, if local governments and schools try to make up budget cuts.

The nonpartisan Legislative Fiscal Bureau released its report at the request of Republican lawmakers, who had wanted to include strict limits on property taxes in the budget.

Democratic Governor Doyle vetoed those limits in the budget. That budget also included a $50 million cut in the state aid to local governments.

The bureau's analysis assumes local governments will make up half that cut in increased property taxes and the other through spending cuts or other funding sources.

The report says the result is the property tax bill for a median-valued home of nearly $133,000 could go up as much as $148 next year to about $2,700

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