Several recent articles highlight the ongoing problem of state & local taxes growing faster than Wisconsin personal income:
- Wisconsin Taxpayer’s Alliance released a study that forecasts 2005 property taxes will go up more than 6 percent. They also forecast that the local school portion of property taxes will go up 7.3%. They also found that property taxes will account for 4.1% of Wisconsin taxpayer’s personal income. (via JR Ross)
- Unsurprisingly, The Taxpayer Bill of Rights continues to be discussed in Madison. This will continue to be a hot button issue as long as state and local spending continues to rise faster than personal incomes (there will be a reckoning unless the economy grows faster…., here’s an example: Judy Wagner, 65, a Milwaukee substitute teacher, said her property taxes were forcing her to postpone her retirement. Her property tax bill had risen from about $3,000 in 2000 to just under $4,700 now, she said.
“My options are to work until I’m 75 or 80 or sell my home and move south like three of my friends have,” she said.) Via Patrick Marley & Steven Walters.
- This will help, to some degree, though we must create a more robust environment for tax paying entrepreneurs. True statewide, 2 way broadband (not the current slow DSL and cable modem services) and a much simplified tax/paperwork process would be a great start.