The Milwaukee Journal Sentinel (Racine County section) has a comparison of area property tax rates. As it happens, I own property in both the highest taxed area, Racine, and the lowest taxed area, Wind Point. The difference is quite dramatic.
According to the MJS article, a property in Racine with a $150,000 fair market value will be taxed $3,166 while the same property in Wind Point will be taxed $2,077. Or, to put it another way, property taxes in Racine are 52% higher than Wind Point. Yes, 52% higher.
As my condo in Wind Point is worth in the neighborhood of $150,000, I save over a $1,000 year after year by living in Wind Point rather than Racine. Surely this will increase the value of my condo relative to a similar unit in Racine.
I have spoken to many elected officials in Racine over the years and the prevailing sentiment is that taxes make little or no difference when it comes to selecting a place to live or to open a business. This is pure nonsense. High taxes decrease the value of your investments, whether in homes or businesses. Over time, people grow tired of the high taxes, diminishing returns etc... and they move on. This is one of the factors in Racine's declining population.
It is sad that our elected leaders fail to understand that high taxes hurt Racine in general and property owners in particular.