WI Lottery Tax Credit

[98panther]

Can anyone tell me about what percentage this credit is?
Or how it's figured, can't find anything on the State sites.

I have a place in WI but don't live there so I don't qualify.
But I know someone living there and having trouble with paying their property taxes.
Just wonder how much a difference it makes. If it's like the MN homestead credit it's a huge difference.

 

[michaeladams]

no it just takes a little bit off.nearly a 250,000 dollar assesment and my lottery credit was 79 dollars.taxes went up 600 dollars to 3800.and what did i get from the state in return?nothing.maybe some new blacktop, but it was 15 years of bumps and potholes before they came through.before the goverment can give a dollar they first have to take 1.50 from a worker.

 

[snowshoe]

How is the Lottery and Gaming Credit computed?
The Lottery and Gaming Credit is determined in November of each year and depends on the amount of revenues from the lottery, pari-mutuel on-track betting and bingo during the year. The credit amount on your tax bill is based on your school tax rate and the maximum credit value. [ss. 79.10(9)(bm), (11) Wis. Stats.]
http://www.revenue.wi.gov/faqs/slf/lottcr.html

If they dont already get it they need to fill out the form on the website or at the County treasuers office. I think the credit was around 65 bucks this year.
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[98panther]

Thanks, under a hundred probably won't help much at this point.

Geeze property taxes there are killer, compared to MN. I'm in a nice part of the cities. They are in out in the country 1/2 the value of mine and pay twice as much. (friends place is acessed at under 190K = taxes 4500 - ouch)

Makes me glad my cabin is a rustic shack

 

[cdsprague]

ours is $65. I see it went down 3.2% from last year. Does that mean I should buy more lottery tickets? Maybe everyone going through WI to the UP could buy $5 worth for all of us WI people? Come on , help a brother out!

 

[ripcord]

Ain't worth a pinch....