On Thursday July 8th, 2021, Governor Tony Evers signed the 2021-2023 state budget into law. The Wisconsin REALTORS Association advocated for many of the provisions included in the budget that benefit the real estate and commercial real estate industries. The governor used his partial-veto authority to change 50 provisions adopted by the Republican-controlled legislature. In total, the state budget spends approximately $87.两年期30亿美元.
Prior to the governor’s action on the state budget, Republican lawmakers made significant changes to the original budget introduced by Governor Evers in mid-February. The legislature removed numerous tax increases and the proposed repeal of significant regulatory reforms enacted by Republicans over the last ten years.
The Assembly passed the budget with bipartisan support 64-34, with all Republicans and four Democrats voting in favor of the budget. 在参议院, the bill passed 23-9 with all Republicans and three Democrats voting in favor of the budget.
Despite the changes made by both Governor Evers and the legislature to each other’s budgets, the final budget includes a number of bipartisan priorities such as a middle class tax cut, 水的质量计划, 卫生保健的改善, and increased education and transportation funding.
国家预算中包括的主要条款: Below are some of the most significant provisions included in the final state budget that impact the real estate industry:
- 宽带 – Provides $125 million (plus an additional $100 million from federal stimulus money) for broadband expansion to increase internet access in unserved and underserved areas of the state.
- 房产税, 减少6亿5千万美元的财产税, lowering the property tax burden for the average homeowner by $100.
- 所得税, Reduces income taxes by approximately $2 billion. 所得税税率从6.27% to 5.对于收入在24美元之间的个人来说，是3%,000年和263美元,000 (married filers with incomes between $32,000年和351美元,000), providing approximately $172/year in savings for the those making between $50,000年和60美元,每年000.
- dsp技术升级- Provides $5 million for the modernization of customer interface platforms, including real estate licensing renewals and changes.
- 运输, Provides approximately $253 million in additional funding for state and local transportation projects without increasing the gas tax or vehicle registration fees. The plan also includes $30 million in local road funding and $223.5 million in bonding over the biennium, which is the lowest amount in decades.
- i - 94 E / W项目 – Enumerates the expansion of I-94 E/W between the Marquette and Zoo interchanges from 6 lanes to 8 lanes.
- 大厦项目 ——分配1美元.5 billion in funding for state building projects, including $629 million for the UW System.
- 雨天基金 Increases Wisconsin’s “rainy day” fund to approximately $1.50亿美元(此前为4.23亿美元).
关键条款 删除 从预算: The following provisions were removed by the legislature from either the original state budget introduced by Governor Evers:
- 资本利得税 – Proposed to limit the current 30 percent long-term capital gains exclusion to those taxpayers with adjusted gross incomes below $100,个人1万美元，150美元,结婚登记的人是1万.
- 销售税 – Proposed to allow counties to impose an additional 0.5%的销售税，除了0.现行法律允许的5%. County sales taxes must be approved by referendum. Currently, 68 of Wisconsin’s 72 counties have enacted the 0.5%的税. Also, proposed to allow municipalities with more than 30,000 residents to impose, by referendum, a 0.5%的销售税.
- 现行工资 – Proposed to restore the state’s prevailing wage law, which sets minimum pay requirements for construction workers on public works projects.
- 征税范围, Allows county and municipal governments and technical colleges to increase levies by the greater of the percentage change in equalized value due to new construction less improvements removed or 2 percent beginning with levies set in 2021. Eliminates requirement for municipalities to reduce levy limits by revenues generated through certain fees.
- 劳动力住房TIF地区- Proposed to modify TIF law by lifting the current limitation on what share of a mixed-use district’s area can be used for newly-platted residential developments from 35 percent to 60 percent if the additional 25 percent is comprised of workforce housing.
- 黑暗的商店 – Proposed to incorporate provisions from the “dark store” bill, which was introduced as separate legislation earlier this session. 根据这一提案, property would be assessed at its “highest and best use” and would remove vacant properties, 或“黑暗商店,” as comparable sales for the purposes of property tax assessment, thus allowing assessors to value occupied property more solely because of its occupancy.
- 制造业和农业税收抵免—Proposed to limit the manufacturing portion of the credit to only apply to the first $300,000 in qualified production activities income for each firm qualifying for the credit.
- 州住房税抵免计划 Proposed to increase funding (from $42M to $100M) for WHEDA’s State Housing Tax credit program to address affordable housing needs.