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

This bill creates a state income tax credit for property taxes paid by senior citizens aged 65 and older who own and live in their principal dwelling. The credit allows eligible claimants to offset 75% of their annual property taxes against their state income tax liability, with any unused portion potentially refunded through a state appropriation. To qualify, a household's income must be under $24,500 and the home's assessed value must be below $300,000, while also excluding those who already receive other property tax credits or live in leased properties. The legislation also establishes administrative procedures for claiming the credit through state tax forms and limits eligibility to Wisconsin residents who file by the standard deadline.