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Book Plan #2 - Property Tax Elimination

user profile image August 20th, 2010 by Mark Neumann - Comments (1)

On August 10, I published my book: Wisconsin Taxpayers First: A Bold Plan to Take Back Wisconsin. This comprehensive 210-page book includes 12 chapters that give principled conservative solutions to Wisconsin's problems.

From now until the primary election on September 14, I will be emailing you each chapter. Please click the image below to download Chapter 2.



Do you prefer a physical copy? Visit the Online Store.


Chapter 2 details my plan for a one-time only one-year exemption from property taxes.

Here is how the plan works for homeowners:

  • Most people pay their property taxes in escrow through a bank, and the city gets the money the following year.
  • My plan will cut out the middleman (the bank's escrow account), and homeowners will give monthly property tax payments directly to their city.
  • Property tax payers won't pay a cent in 2011, but cities will get the same amount of money in the end.

Here is how the plan works for cities:

  • The cities receive most of the property tax payments in December or January, and use that money to pay the bills throughout the year.
  • My plan will eliminate the bubble (the city's idle money): cities will get the property tax payments every month to pay the bills.
  • Please read the plan for details on how this plan will streamline property tax payments and reduce the workload for city and county clerks.

Benefits:

My plan will instantly give Wisconsin's economy a much-needed influx of cash and capital of up to $11 billion.

  • If the money is saved, it provides the capital for banks to loan to businesses and homeowners.
  • If the money is spent, local Wisconsin businesses will benefit from the products and services that are purchased.

Example:

  • Current System: A homeowner owes $6,000 in property taxes for 2011. That homeowner pays $500/month in 2011 to their mortgage lender, which is held in an escrow account. When the tax bill is due at the end of the year, the mortgage lender pays the $6,000 to the city. The city then spends the 2011 property tax payment ($6,000) at a rate of about $500 per month in 2012.

  • My Plan: Instead of paying $6,000 to the city, the homeowner keeps the payment - the 2011 property tax bill is eliminated! Starting in January 2012, the property owner must send $500/month to the municipality, instead of sending it to their mortgage company. The municipality then can pay its 2012 bills.


I am a small business owner - not a career politician. I know there is no business in America that bills their client for a service twelve months after the fact. Yet that is how property taxes are billed in Wisconsin. Once elected, I will apply business practices to fix these kinds of problems in government.

Thank you for reading this plan. Please email me with any questions or comments.



P.S. Please donate $5, $15, $25, or $50. With your help, we can eliminate all property tax payments in 2011 and restore Wisconsin's economy.


P.P.S. If you missed the previous emails, you can download the earlier chapters here:

  • Foreword by Mark Neumann (PDF)
  • Chapter 1: Cut Government Spending and Reduce Taxes (PDF)

Comments

The logical and practical thing for all property owners to do, is to vote for Mark Neumann! When the voter learns about Mark's many brilliant plans for Wisconsin, how can there be any other option, but MARK

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