Bill > SB60

Introduced Session

Under current law, the homestead tax credit is a refundable income tax credit that may be claimed by homeowners and renters. The credit is based on the claimant[s household income and the amount of property taxes or rent constituting property taxes on his or her Wisconsin homestead. Because the credit is refundable, if the credit exceeds the claimant[s income tax liability, he or she receives the excess as a refund check. Under current law, there are three key dollar amounts used when calculating the credit: 1. If household income is $8,060 or less, the credit is 80 percent of the property taxes or rent constituting property taxes. If household income exceeds $8,060, the property taxes or rent constituting property taxes are reduced by 8.785 percent of the household income exceeding $8,060, and the credit is 80 percent of the reduced property taxes or rent constituting property taxes. 2. The credit may not be claimed if household income exceeds $24,680. LRB-2169/1 KP:cdc 2025 - 2026 Legislature SENATE BILL 60 3. The maximum property taxes or rent constituting property taxes used to calculate the credit is $1,460. Beginning with claims filed for the 2025 tax year, this bill reduces the percentage used for household income over $8,060 from 8.785 to 5.614 percent and increases the maximum income amount from $24,680 to $35,000. The bill also indexes the $8,060, $35,000, and $1,460 amounts for inflation during future tax years. For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

AI Summary

Committee Categories

Tim Carpenter (D)*,  Kristin Dassler-Alfheim (D)*,  Dora Drake (D)*,  Jodi Habush Sinykin (D)*,  Dianne Hesselbein (D)*,  LaTonya Johnson (D)*,  Sarah Keyeski (D)*,  Chris Larson (D)*,  Brad Pfaff (D)*,  Melissa Ratcliff (D)*,  Kelda Roys (D)*,  Jeff Smith (D)*,  Mark Spreitzer (D)*,  Jamie Wall (D)*,  Bob Wirch (D)*,  Clint Anderson (D),  Deb Andraca (D),  Margaret Arney (D),  Mike Bare (D),  Jill Billings (D),  Brienne Brown (D),  Ryan Clancy (D),  Angelina Cruz (D),  Karen DeSanto (D),  Ben DeSmidt (D),  Steve Doyle (D),  Jodene Emerson (D),  Joan Fitzgerald (D),  Russell Goodwin (D),  Kalan Haywood (D),  Francesca Hong (D),  Andrew Hysell (D),  Jenna Jacobson (D),  Alex Joers (D),  Tara Johnson (D),  Karen Kirsch (D),  Darrin Madison (D),  Renuka Mayadev (D),  Maureen McCarville (D),  Tip McGuire (D),  Vincent Miresse (D),  Supreme Moore Omokunde (D),  Greta Neubauer (D),  Sylvia Ortiz-Velez (D),  Lori Palmeri (D),  Christian Phelps (D),  Pricilla Prado (D),  Amaad Rivera-Wagner (D),  Ann Roe (D),  Joe Sheehan (D),  Christine Sinicki (D),  Lee Snodgrass (D),  Ryan Spaude (D),  Angela Stroud (D),  Shelia Stubbs (D),  Lisa Subeck (D),  Sequanna Taylor (D),  Angelito Tenorio (D),  Randy Udell (D),  Robyn Vining (D), 

Fiscal estimate received (on 03/11/2025)

Official Document