State
Wisconsin
Year
2015
Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Benefit Type
Credit
Benefit
This 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.
How is Benefit Disbursed
Credit to the income tax bill
Eligible Property Type
Residential
Characteristics of Eligible Property
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.
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_RR15
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 2015)