Fiscal Note
No appropriation required.
Title
Opposing Wisconsin Assembly Bill 5 and Wisconsin Senate Bill 34.
Body
WHEREAS, two bills currently pending before the Wisconsin Legislature would provide a property tax exemptions for commercial television and radio broadcasters; and,
WHEREAS, residential owners already pay more than 2/3 of all statewide property taxes, while the share paid by businesses has decreased; and,
WHEREAS, the State of Wisconsin has primarily reserved property tax exemptions for benevolent non-profit organizations and this exemption would benefit commercial for-profit businesses without a public purpose; and,
WHEREAS, commercial broadcasters already enjoy a property tax exemption for digital broadcasting equipment, also without a public purpose; and,
WHEREAS, a property tax exemption for commercial radio and television broadcasters would reduce assessed value in the City of Madison by over $9 million, shifting more than $200,000 in tax burden to homeowners and other taxpayers,
NOW, THEREFORE BE IT RESOLVED, the Mayor and Common Council oppose Assembly Bill 5 and Senate Bill 34, and any other effort by the Wisconsin Legislature to further erode our city's ability to provide services by exempting commercial property from property taxes.