An issue we have been monitoring and educating on for more than two years, continues to evolve. The ever-complicated Dark Store legislation that was introduced in 2017, has been placed in the 2019-21 Wisconsin State Budget. Big picture, the legislation seeks to curb strategies used by major retailers to reduce tax assessments on their properties. The potential impacts on business, uniformity and process, have caused uncertainty for some in business and commercial real estate, citing that the proposed bills may not solve for issues as intended.
Simultaneously, a Legislative Study Committee on Property Tax Assessment Practices was formed to evaluate the issues of property tax assessment and develop recommendations. The Commercial Real Estate Industry was represented on this committee which proposed a series of compromise bills that were recently voted out of committee. We continue to work with stakeholders to ensure the best outcomes for the commercial real estate industry. Our thanks to members who have stepped up to serve on committees and educate others throughout the process. We continue to monitor the bills and the process. If you’re interested in learning more, contact the association office at [email protected] or click HERE to see past published resources on the issue.
For ongoing updates on the Joint Study Committee, click HERE.