Helbing Law Office LLC
Experienced Appleton Bankruptcy Lawyer

920-659-5606
- Free Initial Consultation

What are the eligibility criteria for homestead credit?

Wisconsin residents with a low income may have heard of particular programs that could help them. The homestead credit program is a program that was designed to minimize the impact that property taxes and rent may have on a person with a low income. The credit is based on the relationship of household income to the amount of property taxes and rent. However, the maximum credit allowed is $1,168, and no credit is allowed if the household income exceeds $24,680.

What are the eligibility criteria for homestead credit? There is a set of criteria that is necessary to qualify for the homestead credit program. A person applying for homestead credit must have been a legal resident of Wisconsin for the entire year for which the credit is being requested. The person must be at least 18 years old and cannot claim to be a dependent on someone else's federal income tax return. However, if the person is above 62 years old, that limitation no longer applies. The property on which the applicant lives must be owned by that applicant. Additionally, the applicant cannot live on any property that is exempt from taxes during the period for which the homestead credit is being requested.

When applying for credit, the person cannot be living in a nursing home and must also not be receiving any medical treatment. It should also be noted that only one claim can be made per household and no claim can be made in the name of a deceased person. People claiming homestead benefits cannot have county relief payments or Wisconsin work payments exceeding $400. To initiate the claim, the person should submit the property tax bill, if the property is owned, or the original rent certificate, if the property is rented, along with Schedule H or H-EZ to the appropriate authorities.

The person does not necessarily have to be a property owner in order to receive the credit. A person who lives on any property that is subject to property tax is eligible for the credit. However, it may be a wise idea to consult an attorney in order to understand the process properly.

Source: Revenue.WI.gov, "Homestead Credit," Accessed on Aug. 19, 2015

No Comments

Leave a comment
Comment Information