School Property Tax Credit for Renters and Homeowners

State

Wisconsin

Year

2022

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Credit

Benefit

The maximum for this non-refundable, state income tax credit is 12% of the first $2,500 of property taxes or rent paid, or $300. For married persons filing separately, the credit is 12% of the first $1,250, or $150. Claimants apply for the credit through their Wisconsin state income tax forms.

How is Benefit Disbursed

Credit to the income tax bill

Eligible Property Type

Residential

Characteristics of Eligible Property

Only the primary residence of a Wisconsin resident who files a state income tax return is eligible.

Eligibility Criteria

Homeowner

Principal Residence

Renter

Other Criteria

Description of Eligibility Criteria

Since this is a non-refundable credit, the taxpayer has to file state income tax returns and must have a state tax liability. Eligible applicants must own or rent a home in the state.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Record ID

WI103_RR22

Footnotes

For renters, property taxes are considered 20% of rent if heat is included and 25% if heat is not included.

Sources

Wis. Stat. § 71.07(9) (in effect for 2022)
Wisconsin, Department of Revenue, Wisconsin Income Tax 2021 Form 1 (Line 12) (2021 income for filing in 2022) Income Tax
[https://www.revenue.wi.gov/TaxForms2021/2021-Form1f.pdf Accessed 09/08/2023]
View Archived Source

Wisconsin, Department of Revenue, Wisconsin Income Tax 2021 Form 1 Instructions
[https://www.revenue.wi.gov/TaxForms2021/2021-Form1-Inst.pdf Accessed 09/08/2023]
View Archived Source
Wisconsin, Department of Revenue, Property Tax Relief Credits
[https://www.revenue.wi.gov/Pages/faqs/slf-ptrecred.aspx Accessed 09/08/2023]
View Archived Source

Faça Parte da Nossa Lista de Contactos

Back to top