AB135: Bill Text

LRB-1311/2

JK:jld:md

2011 - 2012 LEGISLATURE

2011 Assembly BILL 135

May 17, 2011 - Introduced by Representatives Wynn, Ziegelbauer, Bies, Bernier, Thiesfeldt, Nass and Knilans. Referred to Committee on Ways and Means.

AB135,1,2 An Act to amend 74.47 (1) of the statutes; relating to: the interest rate on delinquent property taxes.

Analysis by the Legislative Reference Bureau

Under current law, the interest rate on delinquent property taxes is 1 percent per month for each month that the taxes remain unpaid. Under this bill, beginning on the bill's effective date and ending on December 31, 2014, the interest rate on delinquent property taxes is 0.5 percent per month for each month that the taxes remain unpaid.

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:

AB135, s. 1 Section 1. 74.47 (1) of the statutes is amended to read:

AB135,2,2 74.47 (1) Interest. The interest rate on delinquent general property taxes, special charges, special assessments, and special taxes included in the tax roll for collection is one percent per month or fraction of a month, except that the interest rate under this subsection beginning on the effective date of this subsection .... [LRB inserts date], and ending on December 31, 2014, is 0.5 percent per month or fraction of a month.

AB135,2,3 (End)