Relating to: an income tax credit for property taxes paid by certain senior citizens and making an appropriation. (FE)

Summary

The bill creates a credit that lets Wisconsin residents age 65 or older claim 75 % of the property taxes they paid on their primary home as a reduction against state income tax. The credit is only available to households earning less than $24,500 and whose home is assessed at under $300,000. Any portion of the credit that exceeds the taxpayer’s income‑tax liability is paid out as a refund from a state appropriation.

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