Wisconsin Senate Bill SB58

Wisconsin 2025-2026 Regular Session

• Introduced: 2/21/25
• Refer: 2/21/25

Caption

Referendum questions for certain referenda that affect property taxes. (FE)

Impact

The impact of SB58 is significant on local governments within Wisconsin as it imposes stricter requirements for bond issuance and tax levy increases. By ensuring that voters receive clearer estimates of how financial decisions will affect their taxes, the bill aims to foster informed decision-making in local governance. This transparency is intended to help electors choose wisely on financial matters that have direct implications on their property taxes, potentially influencing future referenda outcomes.

Summary

SB58 aims to enhance the transparency and informational requirements surrounding referendum questions that affect property taxes. This bill amends existing statutes to require that referenda proposing to exceed property tax levy limits or authorize the issuance of bonds must now include additional information on the ballot. Specifically, it mandates that a good faith estimate of the annual dollar amount difference in property taxes on a median-valued single-family residence be provided, should the referendum pass.

Contention

However, there may be points of contention regarding the added burden this law places on local governments in terms of compliance and the preparation of accurate estimates. Some legislators and officials may argue that providing detailed financial projections could be complex and lead to misinformation, especially if the estimates don't accurately reflect future tax implications due to changing financial circumstances. Others might fear that it could deter necessary funding for infrastructure and services if tax increases are framed unfavorably for the electorate.

Additional_points

Ultimately, SB58 seeks to balance the need for transparency in local government financial decisions with the practical challenges those municipalities may face in implementing these requirements. The bill underscores a legislative effort to protect taxpayers' interests while ensuring local governments maintain the flexibility to meet their funding needs.