Gov. Scott Walker signed the “Blueprint for Prosperity” bill into law Monday, which consists of large income and property tax cuts for the citizens of Wisconsin.
The bill provides $406 million in property tax relief, equating to a reduction of more than $100 on the next property tax bill homeowners receive, according to a statement from Walker.
Additionally, income taxes have been slashed by $98.6 million, meaning a family of four earning $40,000 will save $58 per year, according to the statement.
“In January, we announced that Wisconsin has a budget surplus of nearly one billion dollars,” Walker said in the video. “Today, that money—more than $800 million dollars—is on the way back in the form of property and income tax cuts, and adjustments to withholding.”
Walker also said the typical property bill would be lower in 2014 than when he took office in 2010.
