Municipal Tax Incremental Finance (TIF) (sec. 66.1105(17), Wis. Stats.) Simultaneous Creation and Subtraction

In specific situations, a municipality may simultaneously create a new Tax Incremental District (TID) and subtract parcels from an existing TID even if the municipality is currently over the 12 percent limit. The municipal resolution is not required to state the TID meets the 12 percent limit.

The municipality must submit the required TID documents for creating a TID and subtracting parcels from an existing TID, plus two appraisals from certified appraisers.

The appraisals must show the current fair market value of the taxable property:

  1. In the new TID
  2. Being subtracted from the existing TID

  3. To ensure the 12 percent limit is met when the TID is created, both appraisals must show that the subtracted property value equals or exceeds the new TID's value.

Requirements/limits

  • New TID and the existing TID subtracting parcels must be in the same municipality
  • Only one TID in a municipality can be created under state law (sec. 66.1105(17), Wis. Stats.)

Due date/process

  • If the municipal creation or amendment resolution is adopted by September 30, the TID documents are due to DOR by October 31
  • DOR provides certified base value letters after January 1 of the year following the creation and subtraction amendment
  • Tax Incremental Financing Fee – after notifying DOR of the newly created TID and amended TID, a bill will be posted in "My Tax Account"

Additional TIF information

For more information, review:


FOR MORE INFORMATION PLEASE CONTACT:

MS 6-97
WISCONSIN DEPARTMENT OF REVENUE
Office of Technical and Assessment Services
PO Box 8971
Madison, WI 53708-8971
Phone: (608) 261-5335 or (608) 266-5708
Email additional questions to ​tif@wisconsin.gov