Milwaukee county sales tax 2024 increase stats, estimated to create millions revenue

The new year welcome a new sales ta rise for milwaukee county a key move estimated to create million in upcoming revenue that will support the communities avoid service cuts.

The sales tax in the city of Milwaukee is 7.9 percent, rise from 5.5 percent. Milwaukee County sales tax spiked by less than 1% to 5.9%.

The spike went into implement on Jan 1. Local officials were given authority to generate the tax rates through bipartisan shared revenue business approve by the state legislature last year. The Milwaukee Common Council and Milwaukee County Board of supervisor approved by the sales tax spike last summer.

The bump is estimated to create around $184 million in the city budget. Without that money official would have been forced to close several libraries and fire station and close jobs for library employees, police officers and firefighters.

” Exhibit A In the city of Milwaukee today you will pay additional $60 for this bedroom set” Schoeman said in a post.

In June 2023 the City of Milwaukee voted to implement a @% sales tax. A month afte Milwaukee County voted to increase its sales tax from 0.5% to 0.9%. Both changes took effect Jan 1.

Total sales tax paid in the City of Milwaukee is now 7.9%. The total sales tax paid in Milwaukee County for a municipality not in the City of Milwaukee is 5.9%. The statewide sales tax is 5%.

The reason for the rise is pension crisis, the tax rate becoming stagnant and to safe county services, staff, and cutting of city.

Washington County has a sales tax. It is 0.5% a. The sales tax in the county is 5.5% . No other municipality in Washington County gathers additional taxes.

The rise means consumers will now pay $395 in sales tax for a $5000 purchase, $120 over than they would have paid under the old tax rate. Berson believes that is a mega amount however he does not believe it will impact her sales in the years to come.

Even with the increase Milwaukee’s sales tax is not as rise as other mega cities across the Midwest, including in Chicago which has a 1025 percent sales tax or Minnapolls where the sale tax is at 9 percent.

Higher sales taxes may have mega impact on lower income communities. About 24 % of Milwaukee residents live in poverty according to US Census Bureau. Low resident spend a mega portion of their income compared to saving it.