Samantha Kerkman
A state legislature bill to correct an error in Twin Lakes equalized assessed valuation — that if uncorrected would have resulted in higher tax bills for village property owners — has passed the Assembly.
This evening on a vote of 96-0, the Assembly passed Assembly Bill 273, authored by state Rep. Samantha Kerkman.
Kerkman introduced the bill to address a clerical-type error that has Twin Lakes property taxpayers facing an artificial $70 million increase in equalized value. AB 273 allows the Department of Revenue to make a no-interest loan to the village and allows the village to use the loan to offset the property taxes that would have otherwise been erroneously imposed.
“AB 273 represents the best possible solution,†said Kerkman. “Twin Lakes residents will not see an error-related increase in their property taxes.â€
AB 273 was immediately messaged to the Senate for a vote. Kerkman is optimistic that the bill will see swift action in the other house, as the bill lowers the threshold for the loan program currently in place and would provide a ready solution to other communities who may face a similar problem in the future.
At a Twin Lakes Village Board meeting Monday, Kerkman said she thought the full Senate may vote on the measure next week sometime.
“Although state and local methods are continually improving, and checks are in place to prevent errors, property taxpayers in Wisconsin deserve to be held harmless in the event of erroneous overvaluation,” Kerkman said.
