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Half of Businesses Worried About Property Taxes
It is not just homeowners in Wisconsin who are worried about their property tax bills.
The state’s largest business group, Wisconsin Manufacturers & Commerce, on Tuesday released its latest Employer Survey that shows business owners are very concerned about rising property taxes in the state.
“Over half of the nearly 200 respondents (56%) said Wisconsin is headed in the wrong direction when asked, ‘Would you say that things here in Wisconsin are headed in the right or wrong direction?’,” the survey said. “Similarly, when asked, ‘How do Wisconsin’s state and local taxes impact your company’s ability to compete with businesses in other states,’ 51% said taxes weaken their competitiveness, while just 6% said they improve it.”
WMC’s Kurt Bauer said Wisconsin’s tax rates are just one piece of the state’s business climate, but he said taxes are a very important piece.
“We’re already among the highest-taxed states in the nation, with top-10 individual and property tax burdens and a top-12 corporate tax burden,” Bauer added. “Property taxes are a punishing fixed cost, owed whether a business is just starting out, expanding, or struggling. With Governor Evers’ 400-year autopilot increase, Wisconsin is on track to climb even higher.”
The WMC survey, however, did not just focus on property taxes.
“A majority of employers (71%) support eliminating Wisconsin’s personal income tax, with 46% saying they “strongly support” it. Only 14% of respondents opposed eliminating the state’s income tax,” the survey noted.
“Some states roll out the red carpet for businesses; others roll out the red tape,” Bauer continued. "If Wisconsin seeks to attract investment, businesses, and talent, we must reform our tax climate to make it more competitive with neighboring states and those across the country. More red carpet—less red tape.”
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