From the Wisconsin Policy Forum: “Driven down by a $1 billion income tax cut and tight limits on property taxes, Wisconsin’s state and local tax burden fell in 2022 to its lowest level on record. Local taxes as a share of income have never been lower in more than a half century of data, and state and federal taxes on families and businesses are also near historic lows.”
In fiscal year 2022, state and local tax revenues fell to just under 10.1% of personal income in the state, down from 10.3% in 2021. That was the lowest level since the Wisconsin Policy Forum and its predecessor the Wisconsin Taxpayers Alliance began tracking the state-local tax burden in 1970.
One of the more eye-opening findings of the report was that state tax revenues have grown by 56.9% since 2010. Local tax collections, on the other hand, have grown by only 23.7% over that same period, or less than half as much as state revenues. This is illustrated in Figure 7 of the report.
See the full report.
