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 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:

  1. New TID and territory subtraction are in the same municipality
  2. Document from certified appraisers, which includes:
    1. Appraisal showing the current fair market value of the new TID's taxable property
    2. Second appraisal showing the fair market value of the taxable property being subtracted from the existing TID
  3. Fair market value of the property that is subtracted equals or exceeds the fair market value of the new TID
  4. No other TID was created under sec. 66.1105 (17), Wis. Stats.

Due date/process

  • If the municipality adopts a creation or amendment resolution by September 30, the forms and supporting documents are due to DOR by October 31
  • 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"
  • DOR 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:

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