Village of Menomonee Falls v. Falls Rental World

The sole issue on appeal is whether goods held out for rental may be classified as “merchants’ stock-in-trade” thereby qualifying it as personal property exempt from taxation under sec. 70.111(17), Stats. The statute allows exemptions from general property taxes for “merchants’ stock-in-trade, manufacturers’ materials and finished products and livestock.” We conclude that personal property held out for rental is not “stock-in-trade” as that term is used in the statute; therefore, we reverse the judgment of the trial court.

Falls Rental World, a/k/a L & R Rentals (FRW), is in the business of…