by Benjamin Yount
It may be the most money some people ever see from the Wisconsin Lottery.
Lottery managers in the state said the latest lottery tax credit means a $213 tax cut for the average homeowner in the state.
“It has been another great year thanks to our retail partners and our players, and Wisconsin homeowners are winners too!” Lottery director Cindy Polzin said in a statement.
A portion of lottery sales is dedicated to property taxes each year.
This year’s $213 credit is a bit lower than last year’s $230. But it’s much higher than the $160 in 2020, and the 2019 credit of $184.
“Strong [lotto] sales pushed the average credit above $200 once again,” Wisconsin Revenue Secretary Peter Barca said.
Overall, the lottery credit is worth $320 million for distribution to Wisconsin homeowners for property taxes this year. Since the program began in 1988, Barca says the lottery credit has been worth over $5 billion for homeowners.
Not all homeowners will see the same credit as amounts vary depending on local schools.
The Department of Revenue says the lottery credit shows up on property 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.
But don’t look for a $213 check from the Lottery. The credit is paid by the state to counties, cities, towns and villages on the fourth Monday in March. Those counties or municipalities then settle with overlying taxing jurisdictions.
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Benjamin Yount is a regular contributor to The Center Square.
Photo “Davis and Kara Buy a House” by Nan Palmero. CC BY 2.0.
