Taxes consumed smaller percentage of income again in 2019
MADISON, Wis. (AP) – A new report shows that state and local taxes ate up a smaller percentage of Wisconsin residents’ income for the eighth straight year.
The Wisconsin Policy Forum released data Wednesday that shows residents paid 10.3% of their income in state and local taxes in 2019, down from 10.4% in 2018.
The share of income consumed by taxes has declined every year since 2011 and is now at its lowest point since 1970, according to Forum records.
The report noted that tax revenues increased in 2019 but were offset by income growth.