79.10 Wisconsin state property tax relief.
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79.10 Wisconsin state property tax relief.
(1)Definitions. In this section:
(b)“Average school tax levies” means the average of the school tax levies for the 3 years preceding the assessment year to which the tax credit is to apply.
(d)“Municipality” means any town, village or city in this state. Where a municipality is located in more than one county the portion thereof in each county shall be considered a separate municipality.
(dm)“Principal dwelling” means any dwelling that is used by the owner of the dwelling as a primary residence on January 1 of the year preceding the allocation of a credit under sub.
(bm)and includes improvements that are classified, under ch. 70 , as taxable real property or personal property.
(e)“School tax levies” means property taxes levied in a municipality for elementary and secondary school districts and for county children with disabilities education board programs under s. 115.817 , net of municipal surplus funds applied against those levies.
(g)“School tax rate” means the taxes levied by school districts, as defined in s. 115.01
(3), as reflected on each property tax bill divided by the estimated fair market value of the property as reflected on each tax bill.
(1m)Notice to the department.
(a)Each municipality shall notify the department of revenue of the total amount of credits allocated under sub.
(bm).
(b)Counties and municipalities shall submit to the department of revenue all data related to the lottery and gaming credit and the first dollar credit as requested by the department of revenue.
(2)Notice to municipalities.
(a)On or before November 20 of the year preceding the distribution under sub.
(a)or
(cm), the department of revenue shall notify the clerk of each town, village and city of the estimated fair market value, as determined under sub.
(c), to be used to calculate the lottery and gaming credit under sub.
(5)and of the amount to be distributed to it under sub.
(a)or
(cm). The anticipated receipt of such distribution shall not be taken into consideration in determining the tax rate of the municipality but shall be applied as tax credits.
(b)On or before November 20 of the year preceding the distribution under sub.
(c)or
(cm), the department of revenue shall notify the clerk of each town, village, and city of the estimated fair market value, as determined under sub.
(d), used to calculate the first dollar credit under sub.
(5m)and of the amount to be distributed to it under sub.
(c)or
(cm). The anticipated receipt of such distribution shall not be taken into consideration in determining the tax rate of the municipality but shall be applied as tax credits.
(4)School levy tax credit. Except as provided in sub.
(5m), the amount appropriated under s. 20.835
(b)shall be distributed to municipalities in proportion to their share of the sum of average school tax levies for all municipalities.
(5)Lottery and gaming credit. Each municipality shall receive, from the appropriation under s. 20.835
(q), an amount determined by multiplying the school tax rate by the estimated fair market value, not exceeding the value determined under sub.
(c), of every principal dwelling that is located in the municipality and for which a claim for the credit under sub.
(bm)is made by the owner of the principal dwelling.
(5m)First dollar credit. Each municipality shall receive, from the appropriation under s. 20.835
(b), an amount determined by multiplying the school tax rate by the estimated fair market value, not exceeding the value determined under sub.
(d), of every parcel of real property with improvements that is located in the municipality.
(6m)Corrections of state property tax credit payments.
(a)Except as provided in pars.
(b)and
(c), if the department of administration or the department of revenue determines by October 1 of the year of any distribution under subs.
(4),
(5), and
(5m)that there was an overpayment or underpayment made in that year’s distribution by the department of administration to municipalities, as determined under subs.
(4),
(5), and
(5m), because of an error by the department of administration, the department of revenue or any municipality, the overpayment or underpayment shall be corrected as provided in this paragraph. Any overpayment shall be corrected by reducing the subsequent year’s distribution, as determined under subs.
(4),
(5), and
(5m), by an amount equal to the amount of the overpayment. Any underpayment shall be corrected by increasing the subsequent year’s distribution, as determined under subs.
(4),
(5), and
(5m), by an amount equal to the amount of the underpayment. Corrections shall be made in the distributions to all municipalities affected by the error. Corrections shall be without interest.
(b)If, after March 1 of the year of any distribution under sub.
(5), a municipality discovers an error in the notice that the municipality furnished under sub.
(1m)that resulted in an overpayment of that year’s distribution to the municipality, as determined under sub.
(5), the municipality shall correct the error and notify the department of revenue of the correction on a form that the department prescribes. If, after March 1 of the year of any distribution under sub.
(5), the department of administration or the department of revenue discovers an error in the notice that the municipality furnished under sub.
(1m)that resulted in an overpayment of that year’s distribution to the municipality, as determined under sub.
(5), the department of administration or the department of revenue shall notify the municipality and the municipality shall correct the error. The municipality may pay the amount of the overpayment to the department of revenue and, if the municipality chooses to make such a payment, shall submit the payment with the form prescribed under this paragraph. If the municipality does not pay the amount of the overpayment, the department of administration may collect the amount of the overpayment as a special charge to the municipality or may correct the overpayment as provided under par.
(a). Payments under this paragraph shall be without interest and shall be deposited in the lottery fund.
(c)If, after March 1 of the year of any distribution under sub.
(5), a municipality discovers an error in the notice that the municipality furnished under sub.
(1m)that resulted in an underpayment of that year’s distribution to the municipality, as determined under sub.
(5), the municipality shall correct the error and notify the department of revenue on a form that the department prescribes. If, after March 1 of the year of any distribution under sub.
(5), the department of administration or the department of revenue discovers an error in the notice that the municipality furnished under sub.
(1m)that resulted in an underpayment of that year’s distribution to the municipality, as determined under sub.
(5), the department of administration or the department of revenue shall notify the municipality and the municipality shall correct the error. The department of revenue may either pay the amount of the underpayment to the municipality, from the appropriation under s. 20.835
(q), or correct the underpayment as provided under par.
(a). Payments under this paragraph shall be without interest.
(7m)Distribution.
(a)School tax credit.