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Walker signs $100 million property tax cut

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MADISON, Wis. (AP) — Gov. Scott Walker has signed into law a $100 million property tax cut.

The measure sped through the Legislature with little opposition, allowing for the cut to be applied to tax bills mailed to homeowners in December.

The amount of the cut will vary widely across the state but for the typical homeowner it will amount to just $13 this year and $20 next year.

Even under the cut, property taxes are still projected to increase by $11 — from $2,943 to $2,954 — in two years for the median-valued $148,000 home.

Walker and Republican backers defended the cut, as modest as it may be, as the right thing to do given the state's growing budget surplus.

Walker signed the law Sunday at a farm near Burlington.