Homeowners questioning credit on property tax bills
As Wisconsin property owners get their local tax bills this month, some are questioning a new credit they've never heard of. It's called the first-dollar credit, and it takes $30 to $35 off what you owe.
The state provides the tax break, but not with new money.
According to Neenah finance director Mike Easker, they redistributed $75 million that's normally used for state school tax credits and they adopted a new formula based on the first $3,900 of a property's value.
Easker says it still helps pay for school costs, but it's based on different factors.
The credit is calculated on all taxable properties with improvements unlike the lottery credit, which is only given to those who own the homes they live in.