Showing 11–14 of 14
bills
All housing bills
SB 60 expands the homestead income tax credit for homeowners in Wisconsin starting in 2026. It creates new income-based limits: households earning $8,060 or less receive an 80% credit on property taxes for their primary home, while those earning between $8,060 and $35,000 get a reduced credit based on income above the threshold. The bill repeals older provisions that restricted the credit for people without earned income or disabled claimants, and adds automatic annual inflation adjustments to the income thresholds and credit amounts. This directly affects Wisconsin homeowners with household income under $35,000 who claim the homestead tax credit.
AB 628 allows renters who are veterans or surviving spouses to claim the property tax credit previously only available to homeowners. It amends state law to define "rent constituting property taxes" and lets eligible renters deduct their rent payments toward this credit when filing taxes. The credit can offset income tax liability, with unused portions paid directly by the state. This change applies to taxable years beginning January 1, 2026, and directly affects qualifying renters in Wisconsin.
AB 52 expands the homestead income tax credit for homeowners with low to moderate income. It establishes new income-based limits: households earning $8,060 or less get credit covering 80% of property taxes, while higher earners get credit on taxes exceeding 5.614% of income over $8,060. The credit is unavailable if household income exceeds $35,000. The law also adds automatic inflation adjustments to these thresholds starting in 2026.
SB 618 allows renters who are veterans or surviving spouses to claim the property tax credit based on their rent payments instead of property taxes. The bill amends tax statutes to define "rent constituting property taxes" and permits eligible renters to file for this credit against their income taxes, with unused portions paid via state funds. It specifically applies to renters in veterans' principal dwellings, and couples filing separately can claim 50% of total rent paid. The law takes effect for taxable years beginning January 1, 2026. This expands an existing homeowner-focused credit to include qualifying renters without creating new funding.
