Walker to propose $504 million in property, income tax cuts - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Walker to propose $504 million in property, income tax cuts

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MADISON, Wis. (AP) - The typical Wisconsin homeowner would save about $150 a year in property and income tax cuts Gov. Scott Walker plans to outline in his State of the State speech before the Legislature.

Walker says he will be proposing a property tax cut in his speech Wednesday night that would lower the tax bill of a median-valued $151,000 home by $101. He's also seeking a reduction in the lowest income tax bracket, resulting in a tax cut of between $44 and $58.

The two tax cuts combined would cost about $504 million.

Walker will also be ordering the Department of Revenue to update income tax withholding tables, which will result in a typical family of four keeping about $58 more a month.

Republican legislative leaders are praising the plan.

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