Fiscal Bureau: AB 506 shows lowest property tax increase
Property taxes on a median-valued home would decrease the least under the provisions in AB 506 and 507, according to an analysis requested by Speaker Huebsch from the Legislative Fiscal Bureau.
Under the LFB calculations, a median-valued homes tax bill would increase by $80 in 2007-08 to $2,814 under the AB 506 and 507 proposal. That's compared with $2,804 in the first year and $2,808 in the second year under the budget bill passed by the Assembly.
In the budget bill passed by the Senate, the tax bill would increase to $2,826 in the first year and $2,876.
The LFB also included an estimate for a no-budget scenario, under which tax bills would increase to $2,857 in the first year and $2,980 in the second.
See the LFB memo:
http://www.wispolitics.com/1006/070917lfbmemo.pdf
