Increased Funding for School Levy Tax Credit

(2017 Wisconsin Act 59)

Reducing Wisconsin’s property tax burden is an elusive goal. Property taxes are levied and collected by local units of government. State-imposed limits on local government spending keep property taxes in check, but to reduce property taxes requires additional state funding of Wisconsin’s property tax credit programs and/or increases in state aid for public education.

One of Wisconsin’s property tax credit programs is the School Levy Credit which is applied to every taxable property in Wisconsin. The amount of the credit is based on the property’s assessed value as a percentage of the municipality’s total assessed value.

2017 Wisconsin Act 59 increased annual state funding of Wisconsin’s School Levy Tax Credit by $87 million beginning with property taxes levied in 2017 and payable in 2018.