Some residents could qualify for a lottery and gaming credit from Wisconsin. The Wisconsin Department of Revenue recently issued a reminder for residents to check their property tax bill to find out whether they will get the lottery and gaming credit or not.
Lottery and gaming credit from Wisconsin: who will get it?
Wisconsin’s lottery and gaming credit will provide direct relief to qualifying taxpayers. Residents’ property tax bill will show the lottery credit as a reduction of property taxes due.
“To see if you received the credit, review your property tax bill. The lottery and gaming credit is located below the Total (tax) and First Dollar Credit lines on your tax bill. If an amount is listed on this line, the property received the credit,” the program’s FAQ page says.
To qualify for the lottery and gaming credit from Wisconsin, the property owner must be a Wisconsin resident, as well as use the property in question as their primary residence as of Jan. 1, 2023.
If the property owner remains temporarily absent from the primary residence for not more than six months, for reasons such as hospitalization, vacation, or incarceration, then the primary residence for the purpose of the credit is where the owner returns.
To get the lottery and gaming credit, a person needs to submit an application with the county treasurer, where the property is located, or with the city treasurer if the property is in the city that collects taxes under state law.
If a person is eligible for the lottery and gaming credit from Wisconsin, but their December 2023 property tax bill doesn’t show the credit, they may still claim the credit by applying to the municipal treasurer, where the property is located by Jan. 31, 2024. If they miss the January 31 deadline, they can still get the rebate by filing a late claim application with the DOR by Oct. 1, 2024.
Forms to apply for the lottery and gaming credit from Wisconsin are available at this link.
How much credit to expect
The funds from the lottery and gaming credit come from revenue from the Wisconsin Lottery, pari-mutuel on-track betting and bingo. Authorities determine funds for the credit each year in November.
Wisconsin’s DOR then uses the available funds and the number of estimated properties that could qualify for the credit, to come up with the maximum credit value (MCV). The DOR then uses the MCV (or the actual property value if it is less than the MCV) and the applicable school tax rate to determine the credit amount for each qualifying property.
One person can claim the credit for one primary residence only. The credit is not available on business properties, garages, rental units, vacant land and other property that is not the owner’s primary residence.
For more information on the lottery and gaming credit from Wisconsin, contact the DOR at (608) 266-0772 or (608) 266-9457, or visit this link.
