State
Wisconsin
Year
2020
Variations in Receipt of Benefit
Benefit Varies with Income
Benefit Type
Circuit Breaker
Benefit
The benefit is a refundable state income tax credit for property taxes paid. It is determined by 2 brackets. For those with income at or below $8,060, the credit is 80% of up to $1,460 taxes paid, for a maximum credit of $1,168. For those with income above $8,060 but less than $24,680, the credit is equal to 80% of the amount by which property taxes exceed 8.785% of household income in excess of $8,060. These factors are indexed to inflation. Applications for credits on 2019 real estate tax bills must be filed with the Department of Revenue by 15 April 2024.
How is Benefit Disbursed
Credit to the income tax bill
Eligible Property Type
Residential
Characteristics of Eligible Property
Only residential property and up to 1 acre of surrounding land is eligible for this program. If a homestead that is part of a farm, up to 120 acres are eligible.
Eligibility Criteria
Age
Disability
Homeowner
Income Ceiling
Renter
Other Criteria
Description of Eligibility Criteria
The claimant must be a homeowner or renter when filing the claim and must have resided in Wisconsin for previous whole prior year when filing the claim. The 2019 income ceiling for households filing in 2020 is $24,680. The claimant or claimant's spouse must meet one of the following criteria: (1) must be 62 years of age or older by the last day of the year before the claim is filed; (2) must be disabled; or (3) must have earned income during the year. The claimant must be over 18 years of age but not claimed as a dependent during the year the to which the claim relates, unless the claimant is 62 years of age or older. To be eligible, the claimant may not be receiving the veterans and surviving spouse property tax credit or a farmland preservation credit for the same year. Homestead credit is not allowed if the claimant received Wisconsin Works (W2) payments for all 12 months of the year.
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
Description of State Funding for Tax Loss
Benefits are provided as a credit on state income tax.
Record ID
WI101_RR20
Footnotes
Sources
Wis. Stat. § 71.51 ~ § 71.55 (in effect for 2020)
[https://www.revenue.wi.gov/DOR%20Publications/pb127.pdf Accessed 11/05/2021]
View Archived Source
Wisconsin Department of Revenue Wisconsin Income Tax 2019 Form 1 (2019 income for filing in 2020) Income Tax Form line
[https://www.revenue.wi.gov/TaxForms2017through2019/2019-Form1f.pdf Accessed 11/05/2021]
View Archived Source
Wisconsin Department of Revenue Wisconsin Income Tax 2019 Form 1 Instructions
[https://www.revenue.wi.gov/TaxForms2017through2019/2019-Form1-Inst.pdf Accessed 11/05/2021]
View Archived Source
Wisconsin Department of Revenue, Application (Schedule H) for Homestead Credit (2019 taxable information for filing in 2020).
[https://www.revenue.wi.gov/TaxForms2017through2019/2019-ScheduleHf.pdf Accessed 11/05/2021]
View Archived Source
Wisconsin Department of Revenue Wisconsin Homestead Credit 2018 H and H-EZ Instructions
[https://www.revenue.wi.gov/TaxForms2017through2019/2019-ScheduleH-inst.pdf Accessed 11/05/2021]
View Archived Source
Wisconsin Department of Revenue Homestead Tax Credit Program Summary (FY 2018)
[ https://www.revenue.wi.gov/dorreports/2018hmsted.pdf Accessed 11/05/2021]
View Archived Source
[https://www.revenue.wi.gov/Pages/FAQS/ise-home.aspx Accessed 11/05/2021]
View Archived Source