Powerball provides break on Wisconsin property tax
Businesses also reap benefits
The record $587.5 million jackpot that was drawn Wednesday night brings money back to Wisconsin homeowners.
Forty cents of every Powerball dollar spent in Wisconsin goes back to Wisconsin homeowners, producing more than $11 million for property tax relief since Oct. 6.
“The core mission of the Wisconsin Lottery is to provide property tax relief. We always want to hit that jackpot, but even when we don’t, Wisconsin property taxpayers benefit through this relief,” said Lottery Director Mike Edmonds.
Edmonds said the Powerball raises more revenue to offset property taxes than any other single game, accounting for almost 15 percent of the lottery's $547 million in sales the year that ended June 30 and 22 percent of the $144 million produced for tax relief.
Businesses in Wisconsin have also been impacted by the Powerball, with $1.5 million in commissions for lottery tickets sold during the jackpot that ended Wednesday.
Wednesday’s drawing didn’t provide any Wisconsin jackpot winners, but there were three $1 million winners in the state and hundreds of other winners at lower prize levels.
Copyright 2012 by Channel 3000. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.