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 Form 2A Statement of Personal Property City of Madison 2020

2020-2025 Form

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the steering committee on personal property tax held a hearing on Wednesday to take testimony on the possible elimination of that tax on businesses currently businesses pay the personal property tax on items like office furniture and Machinery the state collects about $270 million a year from the tax Scott drer Economist at the tax Foundation offered testimony at the hearing then sat down with the MacGyver Institute to discuss the issue further individuals used to B pay taxes on their personal property things that you can touch things that you can move um within their Homestead within their house and ostensively Auditors were allowed to come in and they did and ask you when when did you purchase this item and have you depreciated it correctly uh those are gone in all 50 states now but they still exist in 32 states for businesses drinkard highlighted two states in his testimony Illinois and in Ohio that ineffectively eliminated the tax because they simply replaced it with a different ty

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