Gov. Scott Walker is proposing a $100 million property tax cut.
Walker announced the plan Thursday and was joined by Assembly Speaker Robin Vos and Sen. Alberta Darling.
Walker said he wants the proposal approved by early November so the tax cut would be effective this year.
"In the decade prior to our taking office, property taxes on a median-valued home skyrocketed by 27 percent," Governor Walker said in a statment. "Now, because of our tough, but prudent decisions, we’re able to invest $100 million in property tax relief for Wisconsin’s hardworking families, farmers, and seniors."
Assembly Speaker Robin Vos said he hopes to take up the bill by next week and enacted by next weekend. The bill would be introduced Friday, according to Vos.
"Our smart fiscal decisions have produced surpluses and continued investments to our rainy day fund," said Speaker Vos in a statement. "In addition to the one billion dollars in income tax relief this biennium, property owners will now receive some additional relief."
Walker says a typical Wisconsin homeowner will save about $680 over four years under the $100 million property tax relief plan.
Republican Senate President Mike Ellis says, "I don't know why anybody would be opposed to this (proposal)."
Ellis says Walker plans to tap additional state revenue that's come in above projections to offset projected increases in property taxes statewide. Ellis says the effect statewide will be no net property tax increase. The last time something was done like this was in 1993, Ellis said.
Democratic Rep. Sandy Pasch says no Democrats were included in the drafting of the proposal. Walker did not discuss the plan during a meeting on Wednesday with Democratic leaders of the Senate and Assembly.
Walker is announcing the plan just days after Democrat Mary Burke said she will be challenging him for re-election next year.