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 does not need to state the TID meets the 12 percent limit.

To create a TID and subtract parcels from an existing TID, email the required TID documents and two appraisals from certified appraisers to the Wisconsin Department of Revenue (DOR). Appraisers are certified by the Wisconsin Department of Safety and Professional Services.

Appraisals must show the taxable property's current fair market value:

  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


Due date/process

  • If the municipal creation and amendment resolution are adopted by September 30, email DOR the required forms and supporting documents by October 31
  • DOR certifies base value after January 1 of the year following the creation and subtraction amendment
  • TIF Fee – after your municipality notifies DOR that it simultaneously created a TID and amended a TID, DOR posts a bill 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