Initiated by Governor Doyle in the 2008-9 Budget Bill. The credit reduces a real estate tax bill for parcels that have a building or structure on them. It is calculated by a base value multiplied by the equalized school tax rate.
It is not on vacant land, or personal property( not land but other taxable property usually mobile homes on other persons property). Land owners with multiple parcels with structures get this credit on all properties. It is applied to manufacturing, residential and commercial.