Wisconsin 2023-2024 Regular Session

Wisconsin Assembly Bill AB102

Introduced
3/8/23  
Refer
3/8/23  
Report Pass
2/14/24  
Refer
2/14/24  
Engrossed
2/22/24  
Refer
2/26/24  

Caption

Reducing the eligibility threshold to claim the veterans and surviving spouses property tax credit. (FE)

Impact

The impact of AB102 is expected to be positive for many veterans who, due to varying levels of disability, previously fell outside the threshold for tax relief. By lowering the required disability rating, the bill acknowledges the sacrifices made by veterans while also recognizing the diverse challenges they face. This change will allow many more individuals to receive necessary financial support through property tax credits, thus enhancing their financial stability and encouraging homeownership.

Summary

Assembly Bill 102 aims to reduce the eligibility threshold for veterans and their surviving spouses to claim the property tax credit in Wisconsin. Previously, only veterans with a 100 percent service-connected disability rating were eligible for the credit. Under this new bill, those with a service-connected disability rating of at least 70 percent will also be eligible, which is a significant change aimed at providing more financial relief to veterans and their families. This amendment reflects an effort to support a larger group of veterans who may struggle with financial burdens due to their disabilities.

Contention

Despite the anticipated benefits, AB102 may face some contention regarding its financial implications for state revenue. Critics might argue that lowering the eligibility threshold could lead to a significant reduction in property tax revenue, thus impacting budget allocations for public services. However, proponents of the bill emphasize the importance of supporting veterans and argue that the potential revenue loss is a worthwhile trade-off for the increased support provided to those who have served the country.

Companion Bills

No companion bills found.

Previously Filed As

WI SB102

Reducing the eligibility threshold to claim the veterans and surviving spouses property tax credit. (FE)

WI AB564

Allowing renters to claim the veterans and surviving spouses property tax credit. (FE)

WI SB529

Allowing renters to claim the veterans and surviving spouses property tax credit. (FE)

WI AB264

Certain limitations on claiming the veterans and surviving spouses property tax credit. (FE)

WI SB261

Certain limitations on claiming the veterans and surviving spouses property tax credit. (FE)

WI AB1191

A refundable income tax credit based on property taxes paid and making an appropriation. (FE)

WI SB1112

A refundable income tax credit based on property taxes paid and making an appropriation. (FE)

WI AB1014

Property taxation: exemption: principal residence: disabled veterans and their unmarried surviving spouses.

WI AB2898

Property taxation: exemption: principal residence: veterans and their unmarried surviving spouses.

WI SB562

Property taxation: exemption: principal residence: veterans and their unmarried surviving spouses.

Similar Bills

No similar bills found.