Don't Put Property Taxpayers on the Hook for Handouts to Developers
Assembly Bill 609 is well intended, but misguided approach to help solve the housing shortage in Wisconsin by creating a shadow Tax Incremental Financing program for residential
development for workforce housing in the state.
Taxpayers
outside of the designated investment fund areas created in AB 609 will foot the bill for the additional services needed for the housing development through increased property taxes, while consultants and developers see most of the financial benefits.
Wisconsinites are already
overtaxed. The creation of a new, shadow residential TIF program under AB 609 may
benefit a select few developers but it will only serve to increase property
taxes for families across the state, making home ownership less affordable for
many.
Assembly Bill 609 is well intended, but misguided approach to help solve the housing shortage in Wisconsin by creating a shadow Tax Incremental Financing program for residential
development for workforce housing in the state.
Taxpayers
outside of the designated investment fund areas created in AB 609 will foot the bill for the additional services needed for the housing development through increased property taxes, while consultants and developers see most of the financial benefits.
Wisconsinites are already
overtaxed. The creation of a new, shadow residential TIF program under AB 609 may
benefit a select few developers but it will only serve to increase property
taxes for families across the state, making home ownership less affordable for
many.