AB248: Bill Text

LRB-0894/1

JS:jrd:kaf

1995 - 1996 LEGISLATURE

1995 Assembly BILL 248

March 23, 1995 - Introduced by Representatives Ziegelbauer, Underheim, Huber, Seratti, Bell, Huebsch, Robson, Brandemuehl, Bock, Urban, Hasenohrl, F. Lasee, Notestein, Ainsworth, Ryba, Krusick, R. Potter, Black, Gronemus, Ward, Plombon, Baldus and Morris-Tatum, cosponsored by Senators Plewa, Wineke, A. Lasee, Panzer, Chvala and Moore. Referred to Committee on Ways and Means.

AB248,1,3 An Act to renumber 74.47 (1); to amend 74.11 (7), 74.11 (8), 74.12 (7), 74.12 (8), 74.47 (title) and 74.87 (6) (a), (b) and (d); and to create 74.47 (1) (b) of the statutes; relating to: creating a grace period for property tax payments.

Analysis by the Legislative Reference Bureau

This bill creates a 10-day grace period before property taxes become delinquent, although interest is charged from the due date until the taxes are paid, regardless of the grace period.

For further information see the 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:

AB248, s. 1 Section 1. 74.11 (7) of the statutes is amended to read:

AB248,1,11 74.11 (7) (title) Delinquent or late first instalment. If the first instalment of taxes on real property or improvements on leased land is not paid on or before January 31, the entire amount of the taxes remaining unpaid is delinquent as of February 1, except that if the instalment is paid on or before the 10th working day after it is due that instalment is not delinquent and does not render the unpaid balance delinquent, but the instalment shall be collected, together with interest on the unpaid instalment at the applicable rate under s. 74.47 (1) (a), from February 1.

AB248, s. 2 Section 2. 74.11 (8) of the statutes is amended to read:

AB248,2,8 74.11 (8) Delinquent 2nd instalment. If the 2nd instalment of taxes on real property or improvements on leased land is not paid on or before July 31, the entire amount of the taxes remaining unpaid is delinquent as of August 1 and interest and penalties are due under sub. (11), except that if the instalment is paid on or before the 10th working day after it is due that instalment is not delinquent, but the instalment shall be collected, together with interest on the unpaid instalment at the applicable rate under s. 74.47 (1) (a), from July 31.

AB248, s. 3 Section 3. 74.12 (7) of the statutes is amended to read:

AB248,2,18 74.12 (7) (title) Delinquent or late first instalment. If the first instalment of real property taxes, personal property taxes on improvements on leased land or special assessments to which an instalment option pertains is not paid on or before January 31, the entire amount of the remaining unpaid taxes or special assessments to which an instalment option pertains on that parcel is delinquent as of February 1, except that if the instalment is paid on or before the 10th working day after it is due that instalment is not delinquent and does not render the unpaid balance delinquent, but the instalment shall be collected, together with interest on the unpaid instalment at the applicable rate under s. 74.47 (1) (a), from February 1.

AB248, s. 4 Section 4. 74.12 (8) of the statutes is amended to read:

AB248,3,5 74.12 (8) (title) Delinquent or late 2nd or subsequent instalment. If the 2nd or any subsequent instalment payment of real property taxes, personal property taxes on improvements on leased land or special assessments to which an instalment option pertains is not paid by the due date specified in the ordinance, the entire amount of the remaining unpaid taxes or special assessments to which an instalment option pertains on that parcel is delinquent as of the first day of the month after the payment is due and interest and penalties are due under sub. (10), except that if the instalment is paid on or before the 10th working day after it is due that instalment is not delinquent and does not render the unpaid balance delinquent, but the instalment shall be collected, together with interest on the unpaid instalment at the applicable rate under s. 74.47 (1) (a), from the day after the instalment is due.

AB248, s. 5 Section 5. 74.47 (title) of the statutes is amended to read:

AB248,3,7 74.47 (title) Interest and penalty on delinquent or late amounts.

AB248, s. 6 Section 6. 74.47 (1) of the statutes is renumbered 74.47 (1) (a).

AB248, s. 7 Section 7. 74.47 (1) (b) of the statutes is created to read:

AB248,3,13 74.47 (1) (b) The interest rate on late general property taxes, special charges, special assessments and special taxes that are paid on or before the 10th working day after they are due is a rate of 1% per month or fraction of a month from the due date to the payment date.

AB248, s. 8 Section 8. 74.87 (6) (a), (b) and (d) of the statutes are amended to read:

AB248,3,18 74.87 (6) (a) If one instalment only is not paid on the due date, that instalment is not delinquent and does not render the unpaid balance delinquent, but the instalment shall be collected, together with interest and penalty as provided under s. 74.47 (1) (a), (2) and (3) from the day following the due date.

AB248,3,23 (b) If a 2nd instalment under sub. (3) is not paid on the due date, the city treasurer shall declare the unpaid balance delinquent and the general property taxes, special assessments and special charges shall be collected by the city treasurer together with interest and penalty as provided under s. 74.47 (1) (a), (2) and (3) from the preceding February 1.

AB248,4,3 (d) If the final instalment is not paid by the end of the month following the due date, the delinquent unpaid balance shall be collected, with interest and penalty as provided under s. 74.47 (1) (a), (2) and (3), from the preceding February 1.

AB248, s. 9 Section 9. Initial applicability.

AB248,4,6 (1)  This act first applies to taxes based on the assessment as of the January 1 after publication.

AB248,4,7 (End)