Under 2023 Act 12, personal property is exempt from taxation, effective January 1, 2024. A municipality may make a request to the Wisconsin Department of Revenue (DOR) to reduce a TID's base value by the amount of exempt personal property.
To get started, review the TID's creation or territory addition documents to identify personal property in the TID's base value.
- October 31 to request an adjustment effective in the following tax year
- DOR will review requests received:
- By October 31, 2023 for adjustment in the 2024 tax year
- Between November 1, 2023 and October 31, 2024 for adjustment in the 2025 tax year
- Review TID's creation or territory addition documents to determine the amount of personal property included in a TID's base value
Note: Personal property currently assessed in the TID may be different than the personal property included in the TID's base value.
- Complete the Personal Property Removal Workbook if any personal property will be 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 in 2024, review with your municipal assessor
- Email the completed Personal Property Removal Workbook to email@example.com
- DOR reviews and adjusts the TID's base value, as necessary
- DOR emails a recertification letter after completing the adjustment
|Personal Property Removal Workbook||Use this Excel workbook to list the personal property, original values and taxing jurisdictions affected by the TID. For best results, open the workbook, save it to your computer and then complete the forms.|
|2023 Act 12 – Exempts personal property from taxation|
|Common questions – Questions and answers on TID extensions|
Wisconsin Department of Revenue
Office of Technical and Assessment Services
PO Box 8971
Madison, WI 53708-8971
Phone: (608) 266-7750