Most older adults want to stay in their homes as they age. But owning a home is getting more expensive as property taxes surge.
Wisconsin homeowners last December saw the largest school property tax increase in more than three decades, according to the Wisconsin Policy Forum.
Property tax increases disproportionately affect older adults who rely on fixed incomes through pensions, savings and Social Security.
At a Northwoods Senior Breakfast this spring in Merrill, one group of attendees asked: How can older adults get help paying property taxes? Wisconsin Watch passed that question along to three experts:
- Nicole Heckman, vice president of financial wellbeing at AARP Foundation.
- Bekki Schmitt, director of Milwaukee’s Aging and Disabilities Resource Center.
- Jenny Fasula, executive director of the Foundation for Rural Housing.
Here’s what we learned:
Where to start
The AARP Foundation offers an online tool to check eligibility for available assistance programs. Eligibility for assistance is often broader than people assume, Heckman said.
Aging and disability resource centers, or ADRCs, can provide information about local assistance programs and other savings opportunities. The Wisconsin Department of Health Services lists ADRCs by county online.
The Wisconsin Department of Revenue’s website lists the latest information on property tax assistance programs and eligibility requirements. Municipalities may also offer local aid.
People can also seek help from the Foundation for Rural Housing.
Statewide options
“There are no great options for people who get behind on property taxes,” Fasula said. She wants to see the state expand assistance. Here are four existing Wisconsin programs to help offset or delay high property tax bills.
- Homestead credit: This tax credit helps low-income homeowners and renters. People can get help claiming the credit through Volunteer Income Tax Assistance sites or AARP Foundation tax assistance programs. Inflation has reduced the value of the credit in recent years, as Wisconsin Watch has reported.
- School property tax credit: Homeowners and renters can claim this nonrefundable tax credit along with the Homestead credit through their income tax return.
- Property tax deferral loan program: Homeowners 65 and older can delay paying property taxes through the Wisconsin Housing and Economic Development Authority. Borrowers repay the loan, plus interest, once the home is sold or transfers ownership.
- Lottery and gaming credit: Eligible homeowners can apply online or through their county treasurer to receive a credit toward their property tax bills.
Q&Aging
Did we miss a helpful resource? Do you have a question about aging?
Wisconsin Watch is working to answer readers’ questions and share practical tips about aging in Wisconsin. To ask a question or suggest a topic, fill out this form or contact reporter Addie Costello at acostello@wisconsinwatch.org or 608-616-5239.
