Over the last two years, there’s been a sharp rise in property taxes throughout Wisconsin, and in Milwaukee, many homeowners have been feeling the pinch. There are a variety of reasons for these rising taxes, which the Wisconsin Policy Forum outlines in its new report, “What’s driving property tax increases?”
“The big factor that we’re seeing that is sort of making up the difference is referenda that are approved by voters to increase taxes and funding for education,” says Jason Stein, research director for the Wisconsin Policy Forum.
According to the report, school referenda added about $136 million in new property taxes statewide on to 2020-2021 tax bills. And, municipalities and counties throughout Wisconsin added an additional $89.5 million to tax bills in 2020-2021 to make debt payments.