In specific situations, a municipality may simultaneously create a new Tax Incremental District (TID) and a territory subtraction without adopting a resolution with the 12 percent limitation.
If the municipality does not adopt the resolution, it must submit the application forms with supporting documentation showing:
- New TID and territory subtraction are in the same municipality
- Document from certified appraisers, which includes:
- Appraisal showing the current fair market value of the new TID's taxable property
- Second appraisal showing the fair market value of the taxable property being subtracted from the existing TID
- Fair market value of the property that is subtracted equals or exceeds the fair market value of the new TID
- No other TID was created under
sec. 66.1105 (17), Wis. Stats.
- If the municipality adopts a creation or amendment resolution by September 30, the forms and supporting documents are due to DOR by
- DOR certifies base values after January 1 of the year following creation and subtraction amendment
Tax Incremental Financing Remittance Fee – after notifying DOR of the newly created TID and amended TID, we will issue a bill through
"My Tax Account"
amends a TID's value by subtracting the additional parcels (using the appropriate equalized value) from the existing base value
Completing the Application
Review these Application Forms sections:
FOR MORE INFORMATION PLEASE CONTACT:
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 firstname.lastname@example.org