State budget year ends $89 million better
The Associated Press
CREATED Oct. 14, 2013
MADISON, Wis. (AP) -- Wisconsin's budget year ended $89 million better than previously anticipated, money that will help pay for Gov. Scott Walker's proposed $100 million property tax cut.
Walker's administration released updated tax collection figures Monday, the day before the Senate was scheduled to vote on the property tax measure. That cut will lower taxes on the average home by $13 this year.
The newly released budget numbers show that as of June 30 the surplus grew from $670 million to $759 million. Most of it comes from stronger than anticipated state tax collections.
Walker says $153 million is being put into the state's rainy day fund, bringing its balance to $278 million.