How this lesserknown credit may save you money on this year's property tax bill
Dec 17, 2024
Did you know there's a way to win the lottery without buying a ticket? That's partially true, thanks to the Wisconsin Lottery and Gaming Credit.Each time someone buys a lottery ticket in Wisconsin, the proceeds go to a separate state fund. Then, the money is distributed to property owners as a credit on their property tax bills.Watch: Save money on your property tax bill with this lesser-known tax credit. How this lesser-known credit may save you money on this year's property tax billFor over two decades, Curtis Momsen, a homeowner in Hartland, has received his property tax bill. Like many others, he faced a higher cost this time around."It's been pretty steady, but this is probably the bigger increase," Momsen said.However, there is a way to reduce the total amount due through the Lottery and Gaming Credit.Cindy Lindquist spent years in the real estate industry. She attended one of TMJ4's Let's Talk events, where she told reporters about the credit. "I started looking at how many people weren't getting tax credits," Lindquist said. "People that have it don't even know they're getting it. The people that don't, nobody's telling them they're not or that they should apply."The amount of funds available is determined in November based on revenues generated from the Wisconsin Lottery, pari-mutuel on-track betting, and bingo during the year. Different areas may have different credits, as the credit is based on the applicable school tax rate.For Momsen, the credit was nearly $200money he plans to use for everyday expenses. "It helps with groceries, or my son is in club volleyball. It helps with those little things. Every little bit helps," he said. "We'll take it."If you need help determining whether you're receiving the Lottery and Gaming Credit, the best way to find out is by looking at your property tax bill.If your bill shows zeros or a blank space on the Lottery and Gaming Credit line, it means you're not receiving the credit.To claim it, homeowners must be the primary residents of the property, and the property must be their principal residence.If you aren't receiving the credit, you can complete an application form and submit it to your local treasurer's office.For homeowners in the City of Milwaukee, fill out this form. You will need a proof of residency.For homeowners in other areas, fill out this form.But don't waitapplications for the credit must be submitted by January 31st to your local treasurer to be applied to the current year's property tax bill.Unfortunately, if you learned about the credit before or missed the cutoff date for last year's claim (which was October 1st), there's no way to make up lost money.However, if you recently moved or still need to register for the credit, you only have to do so once. Its about time to watch on your time. Stream local news and weather 24/7 by searching for TMJ4 on your device.Available for download on Roku, Apple TV, Amazon Fire TV, and more.Report a typo or error // Submit a news tip