​​Under 2023 Act 12, personal property is exempt from taxation, effective January 1, 2024. A municipality may request the Wisconsin Department of Revenue (DOR) reduce a TID's base value by the amount of exempt personal property.

Due date/process

1. Review TID's creation or territory addition documents to determine the amount of personal property included in a TID's base value 
2. Complete the Personal Property Removal Workbook if any personal property is exempt in 2024
   
   • List all personal property included in the TID base value that is tax exempt as of January 1, 2024
   • Do not include personal property assessed as real estate (ex: buildings on leased land)
   • If you are unsure whether personal property included in the TID's base value is tax exempt beginning in 2024, review with your municipal assessor
     
   • Complete one workbook for each TID with exempt personal property – this is a one-time request
3. Email the completed Personal Property Removal Workbook to tif@wisconsin.gov by October 31
• DOR reviews requests received:
• By October 31 – for adjustment in the next tax year
• After October 31 – for adjustment in the year after the upcoming tax year
4. DOR reviews and adjusts the TID's base value, as necessary
5. DOR emails a recertification letter after completing the adjustment