2024 Personal Property Tax Changes

  Wisconsin eliminates personal property tax effective January 1, 2024:  As of January 1st, 2024, businesses in Wisconsin are no longer subject to personal property tax due to the enactment of 2023 Wisconsin Act 12. However, some property previously subject to personal property tax may now be taxed as real property. The exemption applies to personal property as defined in section Wis State Statute 70.04, as well as to “steam and other vessels, furniture, and equipment.” Household personal property was already exempt from tax in Wisconsin, as were computers, inventories, and manufacturing machinery. The personal property tax exemption does not apply to:

• Real property as defined in section 70.03 (plus manufactured and mobile homes, unless otherwise exempt or subject to a parking permit fee)
• Buildings, improvements, and fixtures on leased land, exempt land, forest croplands, and managed forest land assessed as real property under      section 70.17(3)
• Utility property subject to state taxation under section 76.025(2)

Additionally, Act 12 does not affect the following:

• Completion of 2023 personal property tax collections in 2024
• Correction of 2023 personal property tax errors on the 2024 assessment roll
• Assessment of personal property omitted from 2022 and 2023 on the 2024 assessment roll (or omitted from 2023 on the 2025 assessment roll)

So what does this mean for people who own buildings on leased land?  First of all, your 2023 P.P. tax bill from the Township of Bloomington must be paid in full to the Town Treasurer, Brenda Kluesner. If you have paid your 2023 P.P. taxes in full as of January 31st, 2024, your 2023 tax obligation is completed. If you paid the first half of your 2023 P.P. taxes by January 31st, 2024, your second installment is due on or before July 31st, 2024 to Brenda Kluesner. If you have not paid any amount of your 2023 P.P. tax bill as of January 31st, 2024 you are delinquent and your tax bill is due in full immediately to Brenda Kluesner. Unpaid 2023 Personal Property taxes as of July 31st, 2024 will be sent to the Grant County Circuit Court-Small Claims. You will not receive a 2024 P.P. tax bill from the Town of Bloomington in December of 2024 since it doesn't exist anymore. Your landowner will receive your building’s assessment on their real property tax bill as improvements and they will be responsible for collecting the tax from you.  If you have any questions regarding what your assessed value is and if you are paying the correct tax amount for your assessed value, call the Town Clerk (who has the assessment roll), attend the Open Book (Usually in late April or May) or contact the Town's Assessor, Bruce Gardiner Appraisal Service, LLC.