This Just In...
Kevin Fischer is an award-winning veteran broadcaster who has been seen and heard on Milwaukee TV and radio stations for nearly three decades.
Kevin, who is a legislative aide to state Sen. Mary Lazich (R-New Berlin), can be seen offering his views on the news on the public affairs program, “INTERchange,” on Milwaukee Public Television Channel 10. He lives with his wife, Jennifer, in Franklin.
Businesses 1, Tax Hell 0
By Kevin Fischer
Tuesday, Jul 8 2008, 05:29 PM
The Wisconsin Supreme Court issued a ruling today that will reverberate throughout the entire state. In a case involving tax fairness, taxpayers won in a rare instance.
At issue was the manner in which the city of Madison and other taxing entities were assessing property taxes to Walgreens. Walgreens doesn’t own any of its stores, it rents them. Walgreens hires developers to purchase and own the property and then Walgreens, in return, pays higher rent I exchange for someone else managing the property.
Madison was charging property taxes based on the rent income as opposed to the fair market value of the property, the way all homeowners are assessed in the state of Wisconsin. It was a blatant attempt by government to arbitrarily soak businesses for more revenue.
The state Supreme Court saw through it and ruled in favor of Walgreens, property owners, businesses, and tax fairness.
You can bet every business owner in the state will look at this ruling closely to determine if they’ve been taken to the cleaners by their taxing municipalities.
