Property owners receive increased lottery credit
For the City Times
MADISON – Wisconsin homeowners will notice an increased lottery credit on their property tax bills this year. The Wisconsin homeowners’ Lottery and Gaming Credit found on property tax bills is 38 percent higher than last year. The estimated $229 average credit is due, primarily, to Lottery sales exceeding estimates, which resulted in a higher opening balance for 2021. In 2020, the corresponding Lottery and Gaming Credit was $166.
“The Lottery Credit this year is the highest amount ever certified for distribution in the Lottery’s 33-year history,” said Peter Barca, Wisconsin Department of Revenue secretary. “This is driven by the Wisconsin Lottery having a record year, and the credit returned to homeowners is based on Lottery profits.”
Overall, the Lottery Credit has $343.6 million available for distribution to Wisconsin homeowners for property taxes levied in 2021. In 2020, that figure was $237 million. Since 1988, the Wisconsin Lottery has provided over $4.8 billion in property tax relief to eligible Wisconsin homeowners. The amount of the credit varies throughout the state depending on the tax rate of the school district.
The Lottery Credit is shown on tax bills as a reduction of property taxes due. If a taxpayer pays their 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 overlying taxing jurisdictions.