Wisconsin's tax sources
include: individual income taxes; sales and use tax; property
tax; and other miscellaneous taxes such as estate and excise
taxes. Each Dane County community determines its own local real
estate tax mill rate. Contact local governmental offices for
more information.
| |
| Property
Taxes Collected 1997 |
County
Average |
Madison |
| To School Districts |
52.9% |
51.0% |
| To
Vocational-Technical District |
5.5 |
4.9 |
| To Dane County |
13.5 |
11.4 |
| To Local Government |
25.6 |
30.6 |
| To State and Others |
2.5 |
2.2 |
| Total ($1,000s) |
$547,725 |
$291,685 |
| Per Capita |
$1,375 |
$1,453 |
| Effective Full Value
Rate (per $1,000) |
$24.69 |
$27.64 |
| |
| City of Madison
Sales Tax |
None |
| City of Madison
Room Tax |
7.0% |
| Dane County Sales
Tax |
0.5% |
| |
| State of Wisconsin |
| Retail
Sales Tax |
5.0% |
| Corporate
Income Tax |
7.9% |
| |
| Individual
Income Tax: Every person who is a resident of Wisconsin
and who has a gross income exceeding a certain amount
is subject to Wisconsin income taxes, regardless of where
the income is earned. For specific information, write
to Wisconsin Department of Revenue, P.O. Box 8906, Madison,
WI 53708, or call (608) 266-2772. |
Note:
The Greater Madison Chamber of Commerce has two tax-related
brochures available -- "Wisconsin Personal Taxes"
and "Wisconsin Corporation Taxes."
INDIVIDUAL
INCOME TAX
Wisconsin's
income tax is imposed on all net income of an
individual residing in the state, trusts
administered in the state, and income of
nonresident individuals and trusts derived from
property located, business transacted, or
personal services performed within the state.
Current tax brackets and rates for individual
income tax are:
| Earnings in
Dollars |
| Single |
Married/Separate |
Married/Joint |
Marginal Tax Rate |
| $0-7,500 |
$0 - 5,000 |
$0 -10,000 |
4.90% |
| $7,501 - 15,000 |
$5,001 - 10,000 |
$10,001 - 20,000 |
6.55% |
| Over $15,000 |
Over $10,000 |
Over $20,000 |
6.93% |
Income tax forms may be
requested from the Wisconsin Department of
Revenue, 266-1961, or by visiting 4638 University
Avenue or 125 S. Webster Street. Call 266-2486 or
266-2772 for general income tax information. Send
payments to P.O. Box 268, Madison, WI 53790 and
refund requests to P.O. Box 59, Madison, WI
53785.
GENERAL
SALES AND USE TAX
A 5% state
sales tax is imposed on the sale or use of all
tangible personal property in the state, unless
specifically exempted, and on certain services.
43 Wisconsin counties, including Dane County in
which Madison is located, levy a one-half percent
county tax piggybacked on the state tax. The most
notable products and services which are not
subject to the state and county sales & use
tax include: food for the home preparation of
meals, medical and dental services, heating fuel,
motor fuels which are taxed under a separate
excise tax, advertising services, machinery and
equipment used in manufacturing, prescription
drugs, farm machinery, and legal services.
PROPERTY
TAX
The
property tax is the major source of tax revenue
for local governments in Wisconsin. The net
property tax for the City of Madison was $34.84
per 1,000 as of January 1, 1993, based on 100% of
the assessed property value. (Listed below are
other Dane County cities and villages for 1993).
Exempt are machinery and equipment used in
manufacturing, manufacturers' raw materials and
finished products, merchants' inventories,
pollution control equipment, motor vehicles and
farm machinery.
Other
Dane County Rates for 1993
| City/Village |
Mil Rate (rounded) |
Assessed Value |
| Belleville |
37.05 |
93.7 |
| Black Earth |
35.18 |
82.9 |
| Blue Mounds |
27.05 |
97.7 |
| Brooklyn/Oregon |
37.11 |
97.0 |
| Cambridge |
36.12 |
92.5 |
| Cottage Grove |
33.08 |
110.0 |
| Cross Plains |
35.06 |
91.2 |
| Dane/Lodi |
33.45 |
88.6 |
| Deerfield |
37.13 |
83.2 |
| DeForest |
36.30 |
86.9 |
| Fitchburg/Madison |
29.13 |
104.0 |
| Maple Bluff/Madison |
30.63 |
100.0 |
| Marshall |
32.42 |
91.3 |
| Mazomanie/Wis.
Heights |
33.60 |
90.4 |
| McFarland |
35.49 |
89.4 |
| Middleton |
31.92 |
95.1 |
| Monona |
39.18 |
84.0 |
| Mount Horeb |
34.23 |
90.8 |
| Oregon |
36.20 |
88.5 |
| Rockdale/Cambridge |
23.14 |
99.9 |
| Shorewood
Hills/Madison |
42.78 |
72.0 |
| Stoughton |
30.02 |
92.2 |
| Sun Prairie |
29.04 |
105.0 |
| Verona |
33.84 |
92.7 |
| Waunakee |
30.09 |
90.5 |
Property taxes must be paid
in full to the local treasurer by the last day of
February unless made in two installments (January
31 and July 31). Late payments are subject to
interest charges. Further questions on property
taxes should be directed to the Wisconsin
Department of Revenue, Bureau of Property Tax,
(608) 266-1187, located at 125 South Webster,
P.O. Box 8933, Madison, WI 53708.
OTHER
STATE TAXES
Inheritance,
Estate, and Gift Taxes
Beginning
with dates of death in 1992, there is no state
inheritance tax. However, the state has an estate
tax equal to the state death tax credit provided
under federal law (the "gap" or
"pick-up" tax). An estate tax is a tax
on the right to transfer wealth whereas an
inheritance tax is a tax on the right to receive
property.
For gifts
made on or after January 1, 1992, there is no
state gift tax.
For
more information, please call (608) 266-2772.
Excise
Taxes
This state
tax is levied on cigarettes, liquor, beer,
tobacco products other than cigarettes, and motor
fuel; other miscellaneous taxes on real estate
transfer fees, court-related fees and costs,
bingo tax, mining tax and several occupational
taxes add to Wisconsin's revenue.
[Economy]
[Agriculture] [Crime]
[Employment] [Employment
Agencies]
[Financial Institutions] [Income]
[Major Employers] [Taxes]
[Technology]
[Wages]
[Home] [Site
Map]
©1999 Greater Madison Chamber of Commerce & Internet Marketing Services
|