So many CARW members invest in RPAC through annual dues or the Large Donor Council. Because of you, the REALTORS(r) have secured legislative victories that saved REALTORS® and property owners millions of dollars over the years! Check out the latest report that outlines the latest legislative victories and issues yet on the horizon. See the entire report HERE
Summary of issues with Commercial application:
Property Tax Cut
The WRA lobbied the legislature to help cut property taxes by $650 million. The 2021-23 state budget will provide $300 in property tax relief for the typical home. In addition, the state budget maintained strict levy limits on how much local governments and technical colleges can charge property owners to pay for local services. Property tax relief is a priority for the WRA. The property tax remains the single-highest tax in Wisconsin.
The recently passed state budget included the largest appropriation for broadband expansion grants in state history: $125 million in additional funding for the Broadband Expansion Grant Program over the next two years. In addition, Gov. Tony Evers allocated $100 million in additional funding from the American Rescue Plan Act passed by Congress in March. The combined $225 million, along with private sector investments in broadband, will generate huge improvements that will connect Wisconsin residents and businesses all across the state. This is great news for rural Wisconsin. Broadband expansion for unserved areas remains a top priority for the WRA.
DSPS Technology Upgrades to Simplify Online Credentialing
The recently passed state budget included $5 million to pay for long-overdue upgrades to Department of Safety and Professional Services (DSPS) information technology platforms. The upgrades will make the license and customer portals more user-friendly and interactive as well as significantly improve customer service for license status, affiliation, disciplinary actions and more. The DSPS regulates and licenses over
200 different types of credentials, including real estate licenses.
Significant Income Tax Cuts
The state budget is sending a total tax cut of $3.2 billion back to the people of Wisconsin. Income taxes will be cut by $2.5 billion. The average family will receive approximately $900 in income tax relief. These tax cuts are good for housing, the economy and Wisconsinites.
COVID-19 Civil Liability Exemption
The unknown of liability associated with COVID-19 created a lot of uncertainty for businesses, including real estate firms and their agents. Wis. Act 4 creates immunity from civil liability for death, injury or other damages due to any act or failure to act resulting in, or related to, a person’s exposure to COVID-19 in the performance of the entity’s functions or services. This civil immunity protects entities including real estate firms and independent contractors.
Bad Proposals Rejected by the Wisconsin Legislature
Prior to the passage of the Wisconsin state budget, several proposals were removed from the budget that would have been detrimental to the real estate industry, including limiting the capital gains tax exclusion, raising local levy limits by a minimum of 2% annually, raising taxes by $1 billion, significant rollbacks of landlord-tenant law reforms, and establishing the “Office of Environmental Justice.” The WRA opposed all
these proposals and actively lobbied for their removal.
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