WH&LA has joined a coalition of over 40 business organizations seeking to repeal local personal property taxes, an annual municipal tax in many communities on business supplies & equipment that were already taxed when purchased, while also exploring methods to minimize the impact on current municipal budgets. Wisconsin is one of the only midwest states that still enables this tax.
The Personal Property Tax is an outmoded and unfair source of revenue in Wisconsin. Its origins pre-date both the income and sales tax, in the days when all property was taxed, and was the sole source of revenue for the government.
Today, the Personal Property Tax remains in effect on small businesses. With some industries completely exempted, and others still required to foot the bill, this is the very definition of government picking winners and losers in our economy, and the exact opposite of uniformity.
The PPT represents about 3% of the total of property taxes. By having that sum of cash returned to Main Street small businesses, our state’s economy could realize more job creation and increased reinvestment in the private sector. (http://www.wptonline.org/repeal-ppt)