79.10(1)
(1)
Definitions. In this section:
79.10(1)(b)
(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.
79.10(1)(d)
(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.
79.10(1)(e)
(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.
79.10(1)(g)
(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.
79.10(1m)(a)(a) Each municipality shall notify the department of revenue of the total amount of credits to be paid under
sub. (9) (bm) and the total number of parcels of taxable real property and personal property accounts in the municipality that are eligible for the credit under
sub. (5).
79.10(1m)(b)
(b) Counties and municipalities shall submit to the department of revenue all data related to the lottery credit and requested by the department of revenue.
79.10(2)
(2) Notice to municipalities. On or before December 1 of the year preceding the distribution under
sub. (7m) (a), the department of revenue shall notify the clerk of each town, village and city of the estimated fair market value, as determined under
sub. (11), to be used to calculate the lottery credit under
sub. (5) and of the amount to be distributed to it under
sub. (7m) (a) on the following 4th Monday in July. 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.
79.10(4)
(4) School levy tax credit. The amount appropriated under
s. 20.835 (3) (b) shall be distributed to municipalities in proportion to their share of the sum of average school tax levies for all municipalities, as adjusted under
sub. (7).
79.10(5)
(5) Lottery credit. Each municipality shall receive, from the appropriation under
s. 20.835 (3) (q), an amount determined by multiplying the school tax rate by the estimated fair market value, not exceeding the value determined under
sub. (11), of every parcel of taxable real property and every personal property account in the municipality.
79.10(6m)
(6m) Corrections of state property tax credit payments. If the department of administration or the department of revenue determines by October 1 of the year of any distribution under
subs. (4) and
(5) 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) and
(5), 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 subsection. Any overpayment shall be corrected by reducing the subsequent year's distribution, as determined under
subs. (4) and
(5), 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) and
(5), 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.
79.10(7m)
(7m) Distribution to municipalities. 79.10(7m)(a)1.1. The amount determined under
sub. (4) shall be distributed by the department of administration on the 4th Monday in July.
79.10(7m)(a)2.
2. The town, village or city treasurer shall settle for the amounts distributed under this paragraph on the 4th Monday in July with the appropriate county treasurer not later than August 15. Failure to settle timely under this subdivision subjects the town, village or city treasurer to the penalties under
s. 74.31. On or before August 20, the county treasurer shall settle with each taxing jurisdiction, including towns, villages and cities except 1st class cities, in the county.
79.10(7m)(b)1.a.a. The amount determined under
sub. (5) with respect to the number of parcels of taxable real property and personal property accounts for which the town, village or city has furnished notice under
sub. (1m) by March 1 shall be distributed from the appropriation under
s. 20.835 (3) (q) by the department of administration on the 4th Monday in March.
79.10(7m)(b)2.
2. The town, village or city treasurer shall settle for the amounts distributed on the 4th Monday in March under this paragraph with each taxing jurisdiction within the taxation district or provide the amounts distributed to the appropriate county treasurer for settlement not later than April 15. Failure to settle timely under this subdivision subjects the town, village or city treasurer to the penalties under
s. 74.31. On or before August 20, the county treasurer shall settle with each taxing jurisdiction, including towns, villages and cities except 1st class cities, in the county.
79.10(8)
(8) Delayed payments. If a municipality receives a payment under this section that, under
s. 16.53, is made after the date specified in this section, that municipality shall as soon as possible distribute to each taxing district for which the municipality collects taxes that district's share of the payment and of the interest in respect to that payment.
79.10(9)
(9) Credit against tax liability. 79.10(9)(b)(b)
Property tax relief credit. Except as provided in
ss. 79.175 and
79.18, every property taxpayer of the municipality having assessed property shall receive a tax credit in an amount determined by applying the percentage of the amount of the value of property assessed to the taxpayer to the amount of the distribution to be made to the municipality under
sub. (7m) (a), as stated in the December 1 notification from the department of revenue, except that no taxpayer may receive a credit larger than the total amount of property taxes to be paid on each parcel for which tax is levied for that year by that taxpayer.
79.10(9)(bm)
(bm)
Lottery credit. Except as provided in
ss. 79.175 and
79.18, every owner of taxable personal property or a parcel of taxable real property is entitled to receive a lottery credit in an amount determined by multiplying the estimated fair market value of the personal property or of the parcel of property, not exceeding the value determined under
sub. (11), by the school tax rate.
79.10(9)(c)
(c)
Credits shown on tax bill. The lottery credit under
par. (bm) shall reduce the property taxes otherwise payable, and the credit under
par. (b) shall reduce the property taxes otherwise payable.
79.10(9)(d)
(d)
Credit limit. No taxpayer may receive in respect to any parcel credits under this subchapter that exceed the total amount of property taxes due on that parcel.
79.10(11)
(11) Lottery credit estimated fair market value. 79.10(11)(a)(a) For property taxes levied in 1997 and thereafter, the estimated fair market value shall be determined under
par. (b).
79.10(11)(b)
(b) Before October 16, the department of administration shall determine the total funds available for distribution under the lottery credit in the following year and shall inform the joint committee on finance of that total. Total funds available for distribution shall be all existing and projected lottery proceeds and interest for the fiscal year of the distribution, less the amount estimated to be expended under
ss. 20.455 (2) (r),
20.566 (2) (r) and
20.835 (2) (q) and less the required reserve under
s. 20.003 (5). The joint committee on finance may revise the total amount to be distributed if it does so at a meeting that takes place before November 1. If the joint committee on finance does not schedule a meeting to take place before November 1, the total determined by the department of administration shall be the total amount estimated to be distributed under the lottery credit in the following year.
79.10(11)(c)
(c) Before November 1, the department of administration shall inform the department of revenue of the total amount available for distribution under the lottery credit in the following year. Before December 1, the department of revenue shall calculate, to the nearest $100, the estimated fair market value necessary to distribute the total amount available for distribution under the lottery credit in the following year.
79.10 History
History: 1971 c. 125 ss.
412,
521; Stats. 1971 s. 79.10;
1973 c. 90;
1975 c. 39,
199;
1977 c. 29,
418;
1979 c. 110 s.
60 (11);
1981 c. 20 ss.
1174 to
1182n,
2202 (45) (b);
1981 c. 93,
314,
317;
1983 a. 2 ss.
6 to
10,
12;
1983 a. 3,
27;
1983 a. 189 s.
329 (17m);
1983 a. 395;
1985 a. 4,
29,
39,
120;
1987 a. 27,
378;
1991 a. 39,
225,
269,
323;
1993 a. 16;
1995 a. 27;
1997 a. 27,
164.
79.11
79.11
Payment of tax credits. 79.11(1)
(1) The extension of the tax credits authorized by
s. 79.10 on the tax roll shall be deemed payment of that portion of the total tax due on property to which such credits are applicable.
79.11(2)
(2) The payment of the difference between the total tax which is due on any property less the amount of the tax credits applicable to such property authorized by this subchapter shall be considered payment in full of the property taxes due thereon in that year.
79.11(3)(a)(a) In those cities, villages and towns where the payment of property taxes is authorized to be made in instalments, such instalment payments shall be based on the net amount of taxes due after the tax credits authorized by this subchapter have been applied.
79.11(3)(b)
(b) Notwithstanding
ss. 74.11 (2) (b) and
74.12 (2) (b), the lottery credit shall be deducted in its entirety from the first instalment. This paragraph does not apply to the payment of taxes in instalments under
s. 74.87.
79.11 History
History: 1971 c. 125 s.
411; Stats. 1971 s. 79.11;
1991 a. 39,
323;
1997 a. 27.
79.14
79.14
School levy tax credit. The appropriation under
s. 20.835 (3) (b) is $319,305,000 in 1994, 1995 and 1996 and is $469,305,000 in 1997 and thereafter.
79.14 History
History: 1991 a. 39,
315;
1995 a. 27.
79.175
79.175
Excess tax credit corrections. If a municipality applies excess tax credits on the tax roll under
s. 79.10 (9), the municipal clerk shall correct the excess application by deducting the excess amount from the appropriate credits in the following year.
79.18
79.18
Insufficient tax credit corrections. If a municipality applies insufficient tax credits on the tax roll under
s. 79.10 (9), the municipal clerk shall correct the deficiency by adding the deficient amount to the appropriate credits in the following year.
