Counties can levy an additional sales tax of no more than 1.75%
Current average sales tax (with local taxes included): 5.43%
Common Exceptions at State Level:
Prescription Medicine: Exempt
Unprepared Foods: Exempt
Gasoline Tax: 51.30 cents/gallon (Includes all state, local, and federal taxes)
Diesel Fuel Tax: 57.30 cents/gallon (Includes all state, local, and federal taxes)
Personal Income Tax
Personal Income Tax Rate Range: Four brackets from 3.54% to 7.65% (on income over $280,950)
Standard deduction: Single Filing Status: $11,790. Married Filing Jointly: $21,820, subject to phase-out
Personal Exemption Allowance: $700. Dependent Exemption: $700
Itemized Deductions Allowed? Yes, subject to limitations.
Social Security: Exempt
401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
Private pensions: Taxable at ordinary income tax rates*
Public Pensions: Some are exempt*
Active Duty Pay: Taxable to the extent included in federal Adjusted Gross Income except for National Guard and reservist pay, which is exempt. May also be eligible for $300 tax credit.
Military Retirement Pay: Exempt
Military Disability Pay: Exempt
VA Dependency & Indemnity Compensation Benefits: Exempt
Income tax comments: *Retired taxpayers may be eligible for a tax credit. If 65 and over, may deduct $5,000 of retirement income if federal AGI is less than $15,000 ($30,000 if married filing jointly).
Local municipalities average 1.85% of the property's assessed value.
Calculation of assessed value: Varies by county
Relief programs for:
Owner-occupied: Credit up to $1,460 if income less than $24,860.
Disabled Veterans: May be eligible for 100% exemption if 100% service-connected disability.
School Property Tax Credit: Based on property's assessed value as a percentage of municipality's total assessed value. Cannot exceed $300.
65 and over: Deferral programs available if income under $20,000 through the Wisconsin Housing and Development Authority.
Personal Property Tax: Yes. Rates and exemptions vary.