LRB-1683/1
JK:jld:rs
2011 - 2012 LEGISLATURE
September 14, 2011 - Introduced by Senators Zipperer, Galloway, Grothman,
Hansen, Holperin, Lasee, Lazich, Moulton, Olsen, Schultz
and Vukmir,
cosponsored by Representatives Knodl, August, Brooks, Craig, Endsley,
Kerkman, Kestell, Kleefisch, Kooyenga, Krug, LeMahieu, Mursau, Nass,
Nygren, A. Ott, Petersen, Rivard, Spanbauer, Steineke, Thiesfeldt, Wynn

and Weininger. Referred to Committee on Public Health, Human Services,
and Revenue.
SB182,1,3 1An Act to amend 70.03 and 70.112 (1) of the statutes; relating to: excluding
2permits and licenses from the definition of real property for property tax
3purposes.
Analysis by the Legislative Reference Bureau
Under current law, for property tax purposes, "real property" includes land and
all buildings and improvements on the land and all fixtures and rights and privileges
related to the real property. Under this bill, "real property" does not include permits
and licenses related to real property.
Under current law, money and intangible personal property, including credit,
checks, share drafts, notes, bonds, stocks, and other written instruments, are exempt
from property taxes. The bill clarifies that permits and licenses are also intangible
property for purposes of the property tax exemption for money and intangible
personal property.
For further information see the state and local fiscal estimate, which will be
printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB182, s. 1 4Section 1. 70.03 of the statutes is amended to read:
SB182,2,8
170.03 Definition of real property. "Real property", "real estate" and "land",
2when used in chs. 70 to 76, 78 and 79, include not only the land itself but all buildings
3and improvements thereon, and all fixtures and rights and privileges appertaining
4thereto, not including permits and licenses appertaining thereto, and except that for
5the purpose of time-share property, as defined in s. 707.02 (32), real property does
6not include recurrent exclusive use and occupancy on a periodic basis or other rights,
7including, but not limited to, membership rights, vacation services and club
8memberships.
SB182, s. 2 9Section 2. 70.112 (1) of the statutes is amended to read:
SB182,2,1210 70.112 (1) Money and intangible personalty. Money and all intangible
11personal property, such as credit, checks, share drafts, other drafts, notes, bonds,
12stocks, permits, licenses, and other written instruments.
SB182, s. 3 13Section 3. Initial applicability.
SB182,2,1414 (1) This act first applies to property tax assessments as of January 1, 2011.
SB182,2,1515 (End)
Loading...
Loading...