Wisconsin Department of Revenue (DOR)
Division of State and Local Finance
Municipalities and counties use this report to review TID valuation details.
- Current value of each TID - includes any corrections to the prior year value
- Change in value of each TID - compares the current year to the prior year
Definitions of terms in the report
Tax Incremental District (TID) - TID is a geographic area within a municipality created for development or rehabilitation
TID Base Value - total full market value of all property within the TID when the TID was created
TID Current Year Value - total full market value of all property within the TID for the current year
Tax Incremental Value
- Calculated by subtracting the base value from the current year value
- Taxes generated by the increment are used to pay eligible TID project costs
- Negative increment is considered zero, generating no payment to the TID
Non-Manufacturing Real Estate and Personal Property Assessed Value
- Total assessed value of both real and personal property the municipal assessor reports to DOR. This value does not include state assessed Manufacturing property.
- If the assessed values are estimated at the time the current year value is determined, the TID value will be re-determined when final values are provided to DOR, and any difference in value is applied to the next year's value as a correction
Manufacturing Real Estate - full value of manufacturing real estate within the TID (assessed by DOR)
Manufacturing Personal Property - full value of manufacturing personal property within the TID (assessed by DOR)
Prior Year Corrections
- Corrections of the prior year TID value
- Corrections can occur when the assessed values are estimated and the final values are provided to DOR after the TID value is certified for that year
- Corrections can occur when the final ratio differs from the estimated ratio and the TID value is re-determined after it is certified for that year
Frozen Overlap Value - when all or a portion of a TID is overlapped by another TID, the total value of the overlapped parcels is frozen until the TID is terminated
- Also called the level of assessment, which is a factor used to equate assessed values to full market value
- Calculated by dividing the total assessed value of the municipality by the estimated full value (or base value) of the municipality, as determined by DOR
- Current year ratio is an estimated ratio. Final ratios cannot be determined until after final locally assessed values are established, and any necessary corrections are made to the municipal full value.
- If the final ratio differs from the estimated ratio, the TID value is recalculated, and the difference in value is applied to the next year's value as a correction
DOR Full Value/Final Full Value - full market value of all taxable property located within the TID
Amended Full Value - if an error is discovered in the reported assessed value prior to certification of the values, DOR will amend the full value based on information provided by the assessor
TID Statement of Changes
If you have questions, contact the
Equalization Bureau District Office in your area.