Property Tax Credits

Property Tax Credits

The State of Wisconsin has several tax credit programs to provide property tax relief, and property owners may qualify for multiple credits.

Wisconsin has credits that are applied directly to a property tax bill if the property or owner qualifies and/or applies for the credit, including : School Levy Tax Credit, First Dollar Tax Credit, and Lottery and Gaming Tax Credit. Wisconsin also has income tax credits designed to help offset property taxes and are applied for when you complete your Wisconsin Income Tax Return. Finally, Wisconsin offers some qualifying homeowners special loans to help pay property taxes.

 
Wisconsin Tax Credits Applied Directly to your Property Tax Bill:
School Levy Tax Credit. The School Levy Tax Credit provides direct property tax relief by reducing the local school levy. Each municipality receives a school levy credit from the state of Wisconsin based on its share of statewide school taxes levied over the three preceding years. All taxable real property in Wisconsin qualifies for the School Levy Tax Credit and the credit is automatically applied to the tax bill. The credit amount is listed on the property tax bill underneath the "Net Assessed Value Rate" box.

First Dollar Tax Credit. 
The First Dollar Credit provides direct property tax relief on the property tax bill. Every taxable parcel (business, commercial or private) containing a real property improvement in the Village of Kronwetter qualifies for the First Dollar Credit, regardless if the property is the owner's primary residence.  This credit is automatically applied to all qualifying properties. If the property tax bill shows an amount under “Assessed Value Improvements,” that property should receive the credit. If you feel your property qualifies for the credit and it does not appear on the tax bill, please contact the Village. 

Lottery and Gaming Tax Credit. The Lottery and Gaming Tax Credit distributes revenues from Wisconsin Lottery sales during the year to provide property tax relief for qualifying taxpayers. You qualify for the Lottery Credit if, as of January 1, 2019, you were the owner of a property and used that property as your primary residence OR you purchased your primary residence in 2019 and the previous owner qualified for the Lottery Credit. You cannot claim the Lottery and Gaming Credit on business property, rental units, vacant land, garages or other property that is not the owner's primary residence. To receive the credit, you must file an application with the Village Treasurer. If you qualify but do not have the Lottery Credit on your tax bill, please fill out the Department of Revenue's Lottery and Gaming Credit forms.  The deadline to apply is October 1.

You must apply for the Lottery and Gaming Credit; but the First Dollar and the School Levy Tax Credits are automatically applied to your tax bill.


Wisconsin Income Tax Credits: 
Wisconsin also has income tax credits designed to help offset property taxes. These credits are available for qualifying property owners when they complete their Wisconsin income tax return, including: Homestead Credit, Farmland Preservation Credit, Veterans and Surviving Spouses Property Tax Credit, and Renter's and Homeowner's School Property Tax Credit. Contact the Wisconsin Department of Revenue for information.

Wisconsin Property Tax Loan Programs: 
Some homeowners may qualify for special loans to help pay property taxes. The Wisconsin Housing and Economic Development Authority (WHEDA) provides property tax deferral loans for the elderly. Contact WHEDA for more information.


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