AB133-ASA1-AA2-AA22,6,1919
b. Subtract from 1.0 the amount that is calculated under subd. 4. a.
AB133-ASA1-AA2-AA22,6,2120
c. Subtract the percentage of property taxes accrued in subd. 5. from the
21percentage of property taxes accrued in subd. 1.
AB133-ASA1-AA2-AA22,6,2322
d. Multiply the percentage determined under subd. 4. c. by the number
23calculated under subd. 4. b.
AB133-ASA1-AA2-AA22,6,2524
e. Subtract from the percentage of property taxes accrued in subd. 1. the
25amount calculated in subd. 4. d.
AB133-ASA1-AA2-AA22,7,4
15. If the claimant is single and if the claimant's income is at least $21,000 but
2less than $105,000 in the year to which the claim relates, 12.2% of the property taxes
3accrued or rent constituting property taxes accrued or both in that year on the
4claimant's principal dwelling.
AB133-ASA1-AA2-AA22,7,85
6. If the claimant is married and files a joint income tax return and if the
6claimant's income is at least $21,000 but less than $140,000 in the year to which the
7claim relates, 12.2% of the property taxes accrued or rent constituting property taxes
8accrued or both in that year on the claimant's principal dwelling.
AB133-ASA1-AA2-AA22,7,129
7. If the claimant is married and files a separate income tax return and if the
10claimant's income is at least $10,500 but less than $70,000 in the year to which the
11claim relates, 12.2% of the property taxes accrued or rent constituting property taxes
12accrued or both in that year on the claimant's principal dwelling.
AB133-ASA1-AA2-AA22,7,1613
8. If the claimant is single and if the claimant's income is at least $105,000 but
14less than $115,000 in the year to which the claim relates, a percentage of the property
15taxes accrued or rent constituting property taxes accrued or both in that year on the
16claimant's principal dwelling that is calculated as follows:
AB133-ASA1-AA2-AA22,7,1917
a. Calculate the value of a fraction, the denominator of which is $10,000 and
18the numerator of which is the difference between $115,000 and the claimant's
19household income.
AB133-ASA1-AA2-AA22,7,2020
b. Subtract from 1.0 the amount that is calculated under subd. 8. a.
AB133-ASA1-AA2-AA22,7,2221
c. Subtract the percentage of property taxes accrued in subd. 11. from the
22percentage of property taxes accrued in subd. 5.
AB133-ASA1-AA2-AA22,7,2423
d. Multiply the percentage determined under subd. 8. c. by the number
24calculated under subd. 8. b.
AB133-ASA1-AA2-AA22,8,2
1e. Subtract from the percentage of property taxes accrued in subd. 5. the
2amount calculated in subd. 8. d.
AB133-ASA1-AA2-AA22,8,73
9. If the claimant is married and files a joint income tax return and if the
4claimant's income is at least $140,000 but less than $150,000 in the year to which the
5claim relates, a percentage of the property taxes accrued or rent constituting
6property taxes accrued or both in that year on the claimant's principal dwelling that
7is calculated as follows:
AB133-ASA1-AA2-AA22,8,108
a. Calculate the value of a fraction, the denominator of which is $10,000 and
9the numerator of which is the difference between $150,000 and the claimant's
10household income.
AB133-ASA1-AA2-AA22,8,1111
b. Subtract from 1.0 the amount that is calculated under subd. 9. a.
AB133-ASA1-AA2-AA22,8,1312
c. Subtract the percentage of property taxes accrued in subd. 11. from the
13percentage of property taxes accrued in subd. 5.
AB133-ASA1-AA2-AA22,8,1514
d. Multiply the percentage determined under subd. 9. c. by the number
15calculated under subd. 9. b.
AB133-ASA1-AA2-AA22,8,1716
e. Subtract from the percentage of property taxes accrued in subd. 5. the
17amount calculated in subd. 9. d.
AB133-ASA1-AA2-AA22,8,2218
10. If the claimant is married and files a separate income tax return and if the
19claimant's income is at least $70,000 but less than $75,000 in the year to which the
20claim relates, a percentage of the property taxes accrued or rent constituting
21property taxes accrued or both in that year on the claimant's principal dwelling that
22is calculated as follows:
AB133-ASA1-AA2-AA22,8,2523
a. Calculate the value of a fraction, the denominator of which is $5,000 and the
24numerator of which is the difference between $75,000 and the claimant's household
25income.
AB133-ASA1-AA2-AA22,9,1
1b. Subtract from 1.0 the amount that is calculated under subd. 10. a.
AB133-ASA1-AA2-AA22,9,32
c. Subtract the percentage of property taxes accrued in subd. 11. from the
3percentage of property taxes accrued in subd. 5.
AB133-ASA1-AA2-AA22,9,54
d. Multiply the percentage determined under subd. 10. c. by the number
5calculated under subd. 10. b.
AB133-ASA1-AA2-AA22,9,76
e. Subtract from the percentage of property taxes accrued in subd. 5. the
7amount calculated in subd. 10. d.
AB133-ASA1-AA2-AA22,9,118
11. If the claimant is single and if the claimant's income is $115,000 or more
9in the year to which the claim relates, 10% of the property taxes accrued or rent
10constituting property taxes accrued or both in that year on the claimant's principal
11dwelling.
AB133-ASA1-AA2-AA22,9,1512
12. If the claimant is married and files a joint income tax return and if the
13claimant's income is $150,000 or more in the year to which the claim relates, 10% of
14the property taxes accrued or rent constituting property taxes accrued or both in that
15year on the claimant's principal dwelling.
AB133-ASA1-AA2-AA22,9,1916
13. If the claimant is married and files a separate income tax return and if the
17claimant's income is $75,000 or more in the year to which the claim relates, 10% of
18the property taxes accrued or rent constituting property taxes accrued or both in that
19year on the claimant's principal dwelling.
AB133-ASA1-AA2-AA22,9,2120
(c)
Limitations, general. 1. No credit may be allowed under this subsection
21unless it is claimed within the time period under s. 71.75 (2).
AB133-ASA1-AA2-AA22,9,2322
2. Part-year residents and nonresidents of this state are not eligible to claim
23the credit under this subsection.
AB133-ASA1-AA2-AA22,9,2524
(d)
Property taxes accrued limitations. The maximum property taxes accrued,
25or rent constituting property taxes accrued, or both, that may be used in calculating
1the credit under par. (b), with respect to any one household, may not exceed $2,000
2in 1999 or any subsequent calendar year, except that if the claimant is married and
3files a separate return the maximum property taxes accrued, or rent constituting
4property taxes accrued, or both, that may be used in calculating the credit under par.
5(b), with respect to any one household, may not exceed $1,000.
AB133-ASA1-AA2-AA22,10,106
(e)
Administration. The department may enforce the credit under this
7subsection and may take any action, conduct any proceeding and proceed as it is
8authorized in respect to taxes under this chapter. The income tax provisions in this
9chapter relating to assessments, refunds, appeals, collection, interest and penalties
10apply to the credit under this subsection.".".
AB133-ASA1-AA2-AA22,10,1817
71.10
(4) (cn) Property tax refund credit under s. 71.07 (7m), to the extent that
18the credit is nonrefundable.".".
AB133-ASA1-AA2-AA22,10,23
22"605g. Page 851, line 17: delete the material beginning with that line and
23ending with page 852, line 2.
AB133-ASA1-AA2-AA22,11,7
6"632e. Page 944, line 22: delete the material beginning with that line and
7ending with page 945, line 13.
AB133-ASA1-AA2-AA22,11,1210
71.55
(11) Sunset. No new claim may be filed under this subchapter for a
11taxable year that begins after December 31, 1999, based on property taxes accrued
12in the previous year.".
AB133-ASA1-AA2-AA22,11,14
13632s. Page 946, line 4: delete the material beginning with that line and ending
14with page 947, line 20.".
AB133-ASA1-AA2-AA22,12,2
22"
(14z) Property tax refund credit. The treatment of sections 20.835 (2) (e),
2371.07 (7m), 71.08 (1) (intro.) (as it applies to the property tax refund credit) and 71.10
1(4) (cn) and (i) of the statutes first applies to taxable years beginning on January 1,
21999.".".