LRB-1194/P1
MES:wlj
2019 - 2020 LEGISLATURE
DOA:......Quinn, BB0173 - Increase the county and municipal government levy limit minimum increase factor
For 2019-2021 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
local government
This bill changes the allowable percentage increase of the property tax levy that a city, village, town, or county may impose. Generally, under current law, local levy limits are applied to the property tax levies that are imposed in December of each year. Current law prohibits any political subdivision from increasing its levy by a percentage that exceeds its valuation factor, which is the greater of either 0 percent or the percentage change in the political subdivision's equalized value due to new construction, less improvements removed (net new construction). Under the bill, the valuation factor is the greater of either 2 percent or the percentage change in net new construction.
For further information see the state and local fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 66.0602 (1) (d) of the statutes is amended to read:
66.0602 (1) (d) “Valuation factor" means a percentage equal to the greater of either the percentage change in the political subdivision's January 1 equalized value due to new construction less improvements removed between the previous year and the current or zero 2 percent.
(End)
