Baraboo is joining communities statewide in asking the state Legislature to close a tax loophole exploited by big-box retailers.
On Tuesday, the City Council voted unanimously to support a resolution asking for legislation to eliminate the “dark stores” loophole. National retail chains looking to reduce their property tax burden are suing municipalities over their assessments, claiming their stores should be valued the same as vacant buildings of comparable size.
A battle pitting big-box retail giants including Menards and Wal-Mart against Wisconsin towns and cities is headed to the Legislature.
Republican-backed proposals, written in conjunction with the League of Wisconsin Municipalities, are designed to close the so-called dark store loophole and increase how much the mega-retailers pay local communities in property taxes.
A Bexar County arbitration panel rejected arguments by Lowe’s Home Centers to value some of its San Antonio area stores as if they were empty instead of functioning businesses, according to a seven-page decision issued Wednesday.
It’s an argument the North Carolina-based company has successfully used in Michigan and Indiana where major retailers have driven down property values and tax revenue. City officials say a victory for Lowe’s could cost area taxpayers more than $272 million over five years if the home improvement retailer wins.
The property tax bill on Jeff and Roberta Price’s Lincoln Park home was about $400 in 1977, the first year they lived there. It’s been going up ever since, but rarely with the jolt of this year’s 63 percent increase.
The increase, from $8,652 to $14,104, has the couple reconsidering their plan to retire in the Kenmore Avenue home where they raised their kids. They’re looking at homes in Indiana “as a backup plan” for the time when Roberta retires in a few years, said Jeff Price, who is already retired.
CHEYENNE, Wyo. (AP) — A judge on Wednesday agreed to let Peabody Energy go ahead and pay nearly $30 million in property taxes in four states while the coal company goes through bankruptcy reorganization.
The decision in federal court in St. Louis should help end uncertainty for communities in Colorado, New Mexico, Wyoming and Indiana.
CHICAGO – Chicago residents are already grumbling about the likelihood of paying significantly higher property taxes this year, and the bills haven’t even been sent out yet.
Source: Tax bills heading up for Chicago property owners
Just when you were breathing a sigh of relief at the close of another tax season, a new study comes out showing the hit that Illinoisans take on property taxes compared with residents in other states.
Illinois has the highest median property tax rate in the nation, with various agencies and entities taking a combined 2.67 percent bite, according to a CoreLogic analysis of real estate property taxes nationwide.
CHICAGO | Chicago’s City Council easily approved a budget Wednesday with a massive property tax hike and other fees to help close a shortfall and improve the city’s underfunded pension system.
Chicago Mayor Rahm Emanuel’s proposed $588 million property tax hike would further widen the gap between his city’s tax burden and Northwest Indiana’s, making an eastward move across the state line even more attractive to residents and business owners open to leaving the city.
Calling property taxes “unethical, unchristian-like and above all, it is thievery,” tax protester Steven Piotrowski finally paid off his 2013 Montgomery County property taxes this week, preventing a sheriff’s sale at the last minute. He would not, however, go quietly. He initially decided to make a statement by paying off his bill with 83,160 pennies.