“It’s what people are asking for. It’s what they deserve,” Walker said. “The taxpayers of the state helped us create the surplus, it’s only right that we draw down their property taxes.”
Walker and Republican leaders said they want the Legislature to act quickly to pass the legislation to guarantee it will take effect in time for the property tax bills mailed in December.
Walker said the money to pay for the property tax cuts would come from the state’s surplus and higher-than-expected tax collections.
Under the plan, the money would be split into $40 million this year and $60 million next year, and will flow through the school aid formula — but will not be available for schools to spend, Walker said. That means it could only be used to lower property taxes.
The fact that Wisconsin has been able to get its financial affairs in order to run a surplus sounds like good news for Wisconsin.