MADISON, Wisconsin (WSAW) – Homeowners in Wisconsin will notice that the lottery and gambling credit shown on property tax bills is 38% higher than last year.
The estimated credit is $ 229. The increase is due to lottery sales exceeding estimates. In 2020, the corresponding lottery and gaming credit was $ 166.
“This year’s lottery credit is the highest amount ever certified for distribution in the 33-year history of the lottery,” said Peter Barca, secretary of the Wisconsin Department of Revenue. “This is because the Wisconsin Lottery has had a banner year, and the credit returned to owners is based on lottery profits.”
Since 1988, the Wisconsin Lottery has provided more than $ 4.8 billion in property tax relief to qualifying Wisconsin homeowners. The amount of the credit varies statewide depending on the school district’s tax rate.
Lottery credit is shown on tax accounts as a reduction of property taxes due. If a taxpayer pays his taxes in two or more installments, the credit is applied to the first installment. The credit is paid by the state to counties or municipalities on the fourth Monday in March. The county or municipality receiving the payment settles with the overlying tax jurisdictions.
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