(The Center Square) – The rate of state and local taxes that Wisconsin residents pay dropped again in 2024, down to 9.62% of their income.
In 2023, that number was 9.92%. The 2024 rate was the lowest on record in more than half a century, according to a new report from Wisconsin Policy Forum.
Overall, Wisconsin state and local governments collected $36.9 billion in taxes in 2024 compared to $36.2 billion in 2023, a 1.9% tax collection increase that was below the rate of inflation and half of the growth rate of personal income in the state.
“Each year, the Wisconsin Policy Forum examines every local and state tax paid, from the fees paid by dry cleaners ($369,050 in 2024) to gross local property taxes ($13.09 billion),” the group said. “To these fiscal year 2024 figures, we compare state personal income data from the prior calendar year, in this case 2023, to calculate tax burdens.”
Personal income in Wisconsin grew 5.2% in 2023, below the 5.9% growth nationally.
Combined local government taxes grew 2.7% in 2024 to $12.28 billion, according to the report. Local property tax collections grew 4.6% in 2024, the most since 2008.
Lawmakers took notice of the report.
“WI state & local tax burden has dropped to its lowest level since at least 1970,” Rep. Mark Born, R-Beaver Dam, wrote on social media. “Assembly Republicans have consistently worked to lower the tax burden on hardworking Wisconsinites-we will continue to fight to keep the tax burden low!”
Wisconsin state tax collections grew to $24.65 billion in fiscal year 2024 from $24.27 billion in fiscal 2023, a 1.6% increase.
Corporate income tax collections fell 1.7% from $2.75 billion in 2023 to $2.70 billion in 2024.
