By Press Times Staff
HOWARD – The village of Howard is taking advantage of a change in state law as a way to earn interest.
The Howard village board approved an ordinance Monday, Feb. 11, to have the state of Wisconsin directly distribute property tax credits to the village, which receives more than $3 million in payments from the state for the state school tax levy credit, lottery and gaming credit and first dollar property tax credits.
Chris Haltom, director of administrative services, said those credits are given on the property tax bills to each qualifying taxpayer, with the change in state law making it possible again for the village instead of the county to receive that money prior to the credits being distributed.
“A couple of years ago they changed the law, and they made it to where we could receive the money, if we receive more than $3 million in these credits,” Haltom said. “I was notified… that we qualify. We receive more than $3 million in these credits. If we wanted to receive the money directly, and hold the money for three or four weeks, earn interest on it, and then we could send it out to the other taxing jurisdictions just like we did years ago.”
By holding onto that money for a few weeks, Haltom said the village in 2019 could earn up to $4,500, depending on the interest rates.