By Tim Kowols
Taxpayers looking to get more from their refund check by taking advantage of some of the tax reform changes are out of luck in Wisconsin. With the standard deduction doubling and a $10,000 cap on local and state taxes that can be deducted in 2018, many are trying to get the necessary paperwork needed to take advantage of the window in 2017 by looking to pre-pay next year’s property taxes. Kewaunee County Treasurer Michelle Dax says she has received numerous calls on the subject and knows others on the local level also fielding questions. She says it has been the same news for everyone: under Wisconsin State Statute 74.13, no one can pre-pay their property taxes this far in advance.
Only 28 percent of tax filers even take the state and local deduction according to the Tax Foundation. Governor Scott Walker touted earlier this week that the federal Tax Cuts and Jobs Act will give the average Wisconsin family an extra $200 a month for married families of two children with a 2018 median income of $94,742.