MADISON – Property taxes on a typical home would go up by $22 next year and $63 the year after that under Gov. Tony Evers’ proposed budget, according to a report issued Monday.
That’s slightly less than they would go up if Republicans who control the state Legislature didn’t adopt the Democratic governor’s budget and stuck with current policies.
A home valued at $197,200 would see its property taxes rise from $3,315 this year to $3,337 in 2022 under Evers’ budget, according to an analysis by the nonpartisan Legislative Fiscal Bureau. Property taxes would increase to $3,400 in 2023.
That would amount to an increase of 0.7% next year and 1.9% the year after that.
The estimates are based on the property taxes for a hypothetical, median-valued home in the state. The actual bills homeowners receive vary greatly depending on where they live in the state.
Property taxes are set by local governments and technical colleges, but the state strongly influences how much homeowners pay.
With the budget, Evers wants to loosen property tax limits, but also provide far more state funding for schools. Together, those policies would result in property taxes going up slightly less than they otherwise would, according to the fiscal bureau.
Republican lawmakers will begin to rewrite Evers’ budget next month. The plan they settle on could result in property taxes rising by more or less than what Evers has proposed.
Lawmakers plan to approve the budget this summer. Evers can rework it using his line-item veto powers, which could affect property taxes.
Contact Patrick Marley at firstname.lastname@example.org. Follow him on Twitter at @patrickdmarley.