Taxes and Tax Incentives


 

 

If you’ve been looking around my website for awhile you probably realize that I’ve been talking a lot about tax credits. I believe taxes are one of the best ways local municipalities can incentivize change in a community.

Many of the ways that I want to help in or our community involve taxing organizations less to incentivize them to help out.  However, this means there’s going to have to be some new taxes to offset the difference in the city’s budget. It is the belief of this campaign that in times of financial difficulty it is the responsibility of those who have much to help those who have little. As such, my campaign wants to explore new taxes levied on individuals with a reported income of over $200,000 a year. In States like Ohio and Pennsylvania local municipalities have the authority to levy income tax as they see fit. Nothing in Wisconsin legislation forbids municipalities from levying an income tax. Because of this, I believe the city of Madison should levy city income tax on individuals making more than $200,000 a year. All income registered in federal tax brackets above $200,000 should be taxed by the city until the economic reparations of the coronavirus are better addressed. Dane County contains the highest number of individuals making more than $1,000,000 a year in the state of Wisconsin. I believe this new tax would be enough to offset the cost of all the programs and initiatives I have laid out on my website. Furthermore, it is the belief of this campaign that the allegations made by former city of Madison employee Laura Doherty about the undervaluing of commercial real estate in Madison needs to be further explored but the city government. Were I to be elected to the city council I would lead the local government in a further, and public, investigation of the allegations to discover any undervalued property. If there are any businesses that are not paying their fair share in property tax, I intend to find them and put a stop to the practice. It’s time for a full city audet. The city council must audet the ethical practices of city offices and officials. 

Now, none of these proposals are in their final stage. Our campaign is based on the principle of listening first; we acknowledge that on our own we do not have all the answers. Without community collaboration, there is no way that there can be effective and lasting change, and that’s why, in the beginning, stages of this run, our biggest priority is talking to as many people as possible to identify and prioritize the needs of the district that we may not recognize. 

So, if you’re interested in any of these ideas or if you want to help us get to the finish line, reach out to me at reez@reezformadison.com.