Lottery credit to lower property taxes for some Altoona residents
Tuesday, December 11, 2018
Tajma Hall | WEAU
ALTOONA, Wis. (WEAU) -- It's December and as temperatures drop so are property taxes for some local homeowners.
Altoona city officials say many community members will see lower property tax bills in the mail this week.
This is largely thanks an increase in lottery sales, resulting in the largest lottery credit in Wisconsin history.
Across the state, more than 200 million dollars will go toward property tax relief due to the lottery tax credit. Lower Altoona School District taxes are also a factor. Tina Nelson, City of Altoona Finance Director says the tax drop will depend on the assessed value of the property.
"It all happens when all the numbers come together. The city only has its portion...and again the city portion did not go down...the school portion did go down and that lottery credit went up so when they all come together you find out if your taxes are going to go down or going to go up," said Nelson.
She says if you have a property that's under $200,000 than you're property taxes are probably going to go decrease. However, not everyone will see a drop. Nelson says Altoona residents with homes valued at more than $300,000 will see a tax increase of about $4.47.
Read more about this article »