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AB1227: Bill Text
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2025 - 2026 LEGISLATURE
LRB-4509/1
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2025 ASSEMBLY BILL 1227
March 19, 2026 - Introduced by Representative
Taylor
. Referred to Committee on Ways and Means.
AB1227,1,3
1
An Act
to amend
71.10 (4) (i);
to create
20.835 (2) (fm) and 71.07 (8d) of the
2
statutes;
relating to:
an income tax credit for property taxes paid by certain
3
senior citizens and making an appropriation.
Analysis by the Legislative Reference Bureau
This bill creates a refundable income tax credit equal to 75 percent of the property taxes paid on the principal dwelling of an individual who is at least 65 years of age if the individual’s annual household income is no more than $24,500 and the assessed value of the individual’s principal dwelling is no more than $300,000. An individual who claims a credit under the bill may not claim the school property tax credit, the veterans and surviving spouses property tax credit, the farmland preservation credit, or the homestead credit.
Because the credit is refundable, if the amount of the claim for which a claimant is eligible exceeds the claimant’s tax liability, the difference will be paid to the claimant by check.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
AB1227,1
1
Section
1
.
20.835 (2) (fm) of the statutes is created to read:
AB1227,2,3
2
20.835
(2)
(fm)
Senior citizen property tax credit
. A sum sufficient to make the
3
payments under s. 71.07 (8d).
AB1227,2
4
Section
2
.
71.07 (8d) of the statutes is created to read:
AB1227,2,6
5
71.07
(8d)
Senior citizen property tax credit.
(a)
Definitions.
In this
6
subsection:
AB1227,2,10
7
1. “Claimant” means an individual who has reached age 65 by December 31 of
8
the taxable year to which the claim relates or an individual and his or her spouse
9
filing a joint return, either of whom has reached age 65 by December 31 of the
10
taxable year to which the claim relates, and who files a claim under this subsection.
AB1227,2,11
11
2. “Household” means an individual and his or her spouse.
AB1227,2,13
12
3. “Household income” means all taxable income received by an individual
13
and his or her spouse.
AB1227,2,19
14
4. “Principal dwelling” means a dwelling that is owned and used by the
15
claimant as a primary dwelling for the entire taxable year for which the credit
16
under this subsection is claimed and the land surrounding it, not exceeding one
17
acre, for use of the dwelling as a primary dwelling, including a part of a
18
multidwelling or multipurpose building and a part of the land upon which it is built
19
that is used as the claimant’s primary dwelling.
AB1227,3,7
20
5. “Property taxes” means the property taxes, exclusive of special
21
assessments, delinquent interest, and charges for service, paid by a claimant, and
22
the claimant’s spouse if filing a joint return, levied on the claimant’s principal
23
dwelling in this state less any property taxes levied that are properly included as a
24
trade or business expense under section
162
of the Internal Revenue Code. If the
1
principal dwelling on which the taxes were paid is owned by 2 or more individuals
2
or entities as joint tenants or tenants in common or is owned by spouses as marital
3
property, “property taxes” means that part of the property taxes paid that reflects
4
the ownership percentage of the claimant, plus the ownership percentage of the
5
claimant’s spouse for spouses who file a joint return. “Property taxes” includes
6
monthly municipal permit fees with respect to a principal dwelling imposed under
7
s. 66.0435 (3) (c).
AB1227,3,16
8
(b)
Filing claims
. For taxable years beginning after December 31, 2025, and
9
subject to the limitations provided in this subsection, a claimant may claim as a
10
credit against the tax imposed under s. 71.02, an amount equal to 75 percent of the
11
amount of the property taxes the claimant paid in the taxable year on the
12
claimant’s principal dwelling. If the allowable amount of the claim exceeds the
13
income taxes otherwise due on the claimant’s income, the amount of the claim not
14
used as an offset against those taxes shall be certified by the department of revenue
15
to the department of administration for payment to the claimant by check, share
16
draft, or other draft from the appropriation under s. 20.835 (2) (fm).
AB1227,3,20
17
(c)
Limitations
. 1. No credit may be claimed under this subsection if the
18
claimant’s household income for the taxable year for which the claim relates is
19
$24,500 or more or if the assessed value of the claimant’s principal dwelling for the
20
taxable year for which the claim relates is $300,000 or more.
AB1227,3,23
21
2. a. No credit may be allowed under this subsection if the claimant or the
22
claimant’s spouse files a claim under sub. (6e) that relates to the same taxable year
23
for which a claim is made under this subsection.
AB1227,4,2
24
b. No credit may be allowed under this subsection for an amount of property
1
taxes claimed as a credit under sub. (9) or subch. VIII, or both, that relates to the
2
same taxable year for which a claim is made under this subsection.
AB1227,4,5
3
c. No credit may be allowed under this subsection for an amount of property
4
taxes claimed as a credit under subch. IX that relates to the same taxable year for
5
which a claim is made under this subsection.
AB1227,4,7
6
3. Except as provided in subd. 6., only one claimant per household per taxable
7
year may claim a credit under this subsection.
AB1227,4,9
8
4. No credit may be allowed under this subsection for property taxes that the
9
claimant pays on his or her principal dwelling that is leased to the claimant.
AB1227,4,12
10
5. If married persons who are eligible to claim the credit under this subsection
11
file separate returns, each spouse may claim a credit under this subsection on the
12
basis of his or her respective ownership interest in the principal dwelling.
AB1227,4,14
13
6. No credit may be allowed under this subsection unless it is claimed within
14
the time period under s. 71.75 (2).
AB1227,4,16
15
7. Part-year residents and nonresidents of this state are not eligible for the
16
credit under this subsection.
AB1227,4,20
17
(d)
Administration.
1. In administering this subsection, the department of
18
revenue shall make available suitable forms with instructions for claimants,
19
including a form that may be included with, or as a part of, the individual income
20
tax form.
AB1227,4,22
21
2. Subsection (9e) (d), to the extent that it applies to the credit under that
22
subsection, applies to the credit under this subsection.
AB1227,3
23
Section
3
.
71.10 (4) (i) of the statutes, as affected by
2025 Wisconsin Act 15
,
24
is amended to read:
AB1227,5,10
1
71.10
(4)
(i) The total of claim of right credit under s. 71.07 (1), farmland
2
preservation credit under ss. 71.57 to 71.61, farmland preservation credit, 2010 and
3
beyond under s. 71.613, homestead credit under subch. VIII, jobs tax credit under s.
4
71.07 (3q), business development credit under s. 71.07 (3y), research credit under s.
5
71.07 (4k) (e) 2. a., film production services credit under s. 71.07 (5f) (b) 2., veterans
6
and surviving spouses property tax credit under s. 71.07 (6e),
senior citizen
7
property tax credit under s. 71.07 (8d),
enterprise zone jobs credit under s. 71.07
8
(3w), electronics and information technology manufacturing zone credit under s.
9
71.07 (3wm), earned income tax credit under s. 71.07 (9e), estimated tax payments
10
under s. 71.09, and taxes withheld under subch. X.
AB1227,5,11
11
(end)
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