Having trouble keeping up with raising property taxes in Wisconsin? The property tax deferral loan program (PTDL) may be able to help. If you are over age 65, or a qualified veteran, own your Wisconsin residence, and meet certain other qualifications, you may be able to qualify. You may apply for a loan to pay the 2022 property taxes that are due in 2023. The loan principal and interest does not have to be repaid until ownership of the home is transferred or you no longer live in the home.
Things to know:
• A loan may be requested for all, or part, of the 2022 property taxes.
• Maximum loan amount of $3,525 in 2023.
• Loans approved in 2023 have a fixed 7.25% interest rate for the life of the loan.
• Any home co-owners must be at least 60 years of age or permanently disabled.
• Borrowers must have lived in the home for at least six months out of the previous year.
• Total household income for 2022 cannot exceed $20,000 per year.
• Property may not have any outstanding tax liens or past due taxes.
• Home must be insured and policy must be updated to list WHEDA as a lien holder.
• Properties held in a Trust, or which have a Life Estate, are ineligible for this program.
• Mobile homes are not a qualified residence under this program.
• Borrowers can pay back the loan in part or in full, without penalty, at any time.
• First time applicants will be required to have a phone consultation prior to funding.
• Filing deadline is June 30, 2023.
For more information, contact:
WHEDA – Property Tax Deferral Loan Program
P.O. Box 1728
Madison, WI 53701
1-800-755-7835
