Counties can levy an additional sales tax of no more than 2.9%
Current average sales tax (with local taxes included): 5.6%
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 $315,310)
Standard deduction: Single Filing Status: $13,230. Married Filing Jointly: $24,490, subject to phase-out
Personal Exemption Allowance: $700. Dependent Exemption: $700
Itemized Deductions Allowed? Yes, subject to limitations.
Retirement Income
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*
Military Pay
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
SBP/SSBP/RCSBP/RSFPP: 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).
Property Tax
Local municipalities average 1.59% 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/Surviving Spouses: May be eligible for 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.
Premium and Life members can consult our financial staff for education and consumer advice.
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