Who will receive it, how much will it be, and how to apply?
Some residents may be eligible for lottery and gaming credits in Wisconsin. The Wisconsin Department of Revenue recently issued a reminder to residents to check their property tax bills to see if they are eligible for lottery and gaming credits.
Lottery and Gaming Credits in Wisconsin: Who Can Receive?
Wisconsin’s Lottery and Gaming Credit will provide direct relief to eligible taxpayers. Your lottery deduction will appear as a property tax reduction on your property tax bill.
“Review your property tax bill to see if you received a tax credit. Lottery and gaming credits are below. gun (tax) and first dollar credit That line on your tax bill. If an amount appears on this line, the property has received a credit,” the program’s FAQ page states.
To be eligible for Wisconsin Lottery and Gaming Credit, the property owner must be a Wisconsin resident and occupy the property as their primary residence as of January 1, 2023.
If a property owner temporarily stays in their primary residence for less than six months for reasons such as hospitalization, vacation, or incarceration, the primary residence for tax credit purposes is where the owner returns.
To receive lottery and gaming credits, you must submit an application to the county treasurer where the property is located, or to the city treasurer if the property is located in a city that collects taxes under state law.
If you qualify for the Wisconsin Lottery and Gaming credit but do not see the credit on your December 2023 property tax bill, you can still claim the credit by applying to the treasurer of the municipality where your property is located by January 31. , if you miss the January 31, 2024 deadline, you can still receive a refund by filing a late claim application with DOR by October 1, 2024.
Wisconsin Lottery and Gaming Credit Application Forms can be found at this link.
How much credit can I expect?
Funding for lottery and gaming credits comes from revenue from the Wisconsin Lottery, parimutual on-track betting and bingo. The authority determines the grant funds each year in November.
Wisconsin’s DOR then uses available funds and an estimated number of properties eligible for the credit to calculate the Maximum Credit Value (MCV). DOR then uses the MCV (or actual property value if less than the MCV) and the applicable school tax rate to determine the amount of the deduction for each qualified property.
A person can only claim the credit for one primary residence. The credit is not available for business properties, garages, rental homes, vacant land and other properties that are not the owner’s primary residence.
For more information about lottery and gaming credits in Wisconsin, contact DOR at (608) 266-0772 or (608) 266-9457, or visit this link.
