TID terminates/dissolves when one of the following occurs:
- Municipality receives total tax increments equal to the total of all project costs as described in the project plan or any amendment to it
- TID reaches its maximum life. The maximum life varies and is determined by the TID type and resolution date. See the
TID Criteria Matrix table for more details.
- Municipality chooses to dissolve the district early
When a TID is terminated/dissolved, the municipality must provide DOR:
- Notice within 60 days of the termination resolution. Email a completed Final Accounting for Terminated TID Agreement and a copy of the termination resolution.
- On or before the agreed upon submission date, the municipality must:
- Electronically file (e-file) the TID Final Accounting Report
- Complete the TID Final Audit. Save a copy locally in the Municipal TID records.
- Provide a list of the TID parcels to the appropriate Property Lister, which includes the year of the termination. The Property Lister must remove the TID number from the tax/assessment roll.
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
November 8, 2017