What is the Property Tax Deferral Program in Wisconsin?

The Property Tax Deferral Program in Wisconsin is designed specifically to assist elderly or disabled individuals by allowing them to defer property taxes on their primary residence. This program helps to alleviate the financial burden of property taxes, enabling these individuals to maintain their homes during times when they may have limited income or financial resources.

Under this program, eligible participants can postpone the payment of property taxes, which are then accumulated and will be owed at a later date, typically upon the sale of the property or the passing of the homeowner. The objective is to provide support in managing property tax obligations, ensuring that elderly and disabled individuals can remain in their homes without the immediate pressure of tax payments.

The other options do not accurately describe the Property Tax Deferral Program: the program is not focused on new homeowners, agricultural landowners, or local businesses, which helps clarify the specific target demographic for this beneficial tax deferral initiative.