On June 20, 2023, Wisconsin Governor Tony Evers signed revenue reform bill AB245, 2023 Wisconsin Act 12 that repealed the business personal property tax, effective January 1, 2024. Prior to the passage of this Act, personal property was automatically taxed unless specifically exempted from taxation.

Due to the law change, all City of Janesville business personal property accounts will be deactivated for the 2024 assessment roll. Businesses will no longer receive a blank Statement of Personal Property (PA-003) form from our office, since it is no longer required as of January 1, 2024.

View additional information provided by the Wisconsin Department of Revenue (DOR) at 2023 Act 12 Personal Property Exemption.

Buildings on Leased Land:

Historically, Wisconsin has allowed improvements on leased lands to be assessed as either real property or personal property; however, this new bill creates a new section (Wis. Stats. § 70.17(3)), so beginning with property tax assessments as of January 1, 2024, buildings, improvements, and fixtures on leased lands must be assessed as real property. 

If you have any questions regarding business personal property changes, please call our office at (608) 755-3047 between the hours of 8:00am – 4:30pm, Monday – Friday.