WISCONSIN — Gross property tax bills for December in Wisconsin will climb by the largest amount since the Great Recession, according to the Wisconsin Policy Forum.

The Wisconsin Policy Forum looked at preliminary figures from the Wisconsin Department of Revenue, which showed a 5.4% increase.

Taxpayers won’t have to absorb all of that, thanks to state tax credits.

What You Need To Know

  • Gross property tax bills for this month in Wisconsin climbed by the largest amount since the Great Recession

  • Preliminary figures from the state show a 5.4% increase

  • State tax credits will help hold down the net tax property owners actually have to pay

  • A rise in levies illustrates the impact of inflation on taxpayers and school districts

Senior research associate Ari Brown with the Wisconsin Policy Forum said if projections come in as expected, taxpayers could see around a 4.7% gross increase on their bills.

“There are significant hikes, particularly the school levy credit, which also appears on tax bills that will bring things much closer for net taxes to about a 2 to 3% increase statewide,” Brown said.

Brown told us there have been several years since the Great Recession that property taxes have not increased. Brown said one addition to the budget that will play a role in increases to property taxes.

“This year we’re starting to see a little bit of reversal for that. Obviously, the biggest factor here is the $325 per pupil revenue increase the state passed as part of the budget over the summer,” Brown said.

Watch the full interview with the Wisconsin Policy Forum above.

Read the full report below: