Wisconsin’s housing inventory remains at historic lows, pushing home prices higher and limiting options for both first-time buyers and those looking for workforce housing. This also puts pressure on businesses looking to hire workers and companies looking to locate and expand in Wisconsin. With rising mortgage rates, increasing home prices and higher property taxes, affordability remains a top concern for Wisconsin residents and business owners. The WRA supports initiatives to expand housing supply and affordability as well as commercial development including:
WHEDA loan program modifications (SB180): Last session, the WRA successfully advocated for a historic $525 million investment in workforce and senior housing. This bill enhances WHEDA’s loan programs by removing restrictive qualifications, allowing financing incentives like tax credits and infrastructure loans to be stacked together, expanding commercial-to-residential conversions in rural areas, and increasing loan awards to make projects more viable.
Opposing loosening levy limits (LRB 0694/2497): Since 2011, Wisconsin’s property tax levy freeze has saved taxpayers over $14 billion. This bill would automatically increase levy caps to fund regional emergency medical services, bypassing the referendum process. However, 69.5% of EMS/public safety funding referendums already pass, proving that voters are willing to support these initiatives when necessary — without an automatic property tax hike.
Lowering the real estate transfer tax (LRB 2260): Originally set at $1 per $1,000 in 1970, the transfer tax increased to $3 per $1,000 in 1982. This bill redistributes transfer tax revenue to provide more funding for counties while setting aside dedicated funds for land information systems. Additionally, it introduces property record notifications to help prevent title fraud, offering homeowners an extra layer of protection.
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