School Levy Tax Credit

  1. How is the school levy tax credit calculated?
  2. Is the school levy tax credit paid to the school district?
  3. When are towns, villages and cities notified of the amount of the school levy tax credit amount?
  4. How is the school levy tax credit reported on individual property tax bills?
  5. How does a property owner qualify for the school levy tax credit?

School Levy Tax Credit

  1. How is the school levy tax credit calculated?

  2. Formula for calculating the school levy tax credit:

    Municipality's 3-Year Average School Levies
    Statewide 3-Year Average School Levies
    x Total Funding = Municipality's Credit

  3. Is the school levy tax credit paid to the school district?
  4. No. The school levy tax credit is distrubuted to municipalities. The payments are made to the county where the municipality is located. Payment can be made directly to the municipality if the municipality qualifies for one of the exceptions and follows the requirements of state law (sec. 79.10 (7m)(cm), Wis. Stats.).

  5. When are towns, villages and cities notified of the school levy tax credit amount?
  6. The Wisconsin Department of Revenue must inform municipalities of their school levy tax credit payments on or before November 20 each year (sec. 79.10 (2), Wis. Stats.).

  7. How is the school levy tax credit reported on individual property tax bills?
  8. School levies are reported after subtracting the school levy tax credit on property tax bills. The amount of the school levy tax credit is shown in a separate box on the property tax bill.

  9. How does a property owner qualify for the school levy tax credit?
  10. The school levy tax credit is applied to every taxable property. The amount of credit is based on the property's assessed value as a percent of the municipality's total assessed value.

FOR MORE INFORMATION PLEASE CONTACT:

WISCONSIN DEPARTMENT OF REVENUE
Local Government Services Bureau
P.O. Box 8971, MS 6-97
Madison, WI 53708-8971
Fax: (608) 264-6887
Email additional questions to lgs@revenue.wi.gov

July 23, 2014