August 1, 2023

​To: County Clerks, County Treasurers, Real Property Listers, Register of Deeds, Primary Assessors Statutory Assessors, Municipal Clerks, Municipal Treasurers, TID Subscriber List

Subject: Preliminary Equalized Values Posted

Today, the Wisconsin Department of Revenue (DOR) posted its preliminary 2023 Equalized Values, Tax Incremental District (TID) Values, Net New Construction Report, and County Apportionment Report.

DOR posts the 2023 preliminary Equalized Values, providing each municipality an opportunity to review the values before we certify them on Tuesday, August 15.

Information Available for Review – August 7 review deadline

• Net New Construction and TID Values
  • Municipal assessor provides the assessed values used by DOR to calculate net new construction and TID full values. Note: Full values may contain corrections to the prior year's values.
  • If you would like to review the assessed values reported to DOR, contact your municipal assessor
• Equalized Values – reflects all value changes to your municipality

Additional Information

• Complete report descriptions – view the links below, under "Available Reports"
• Report questions – contact your Equalization Bureau District Office
• Manufacturing value questions – contact your Manufacturing & Utility Bureau District Office

Guidelines for Warranted Changes

• If DOR determines any changes to the preliminary values are warranted, we will make the changes before certifying the values
• DOR will make changes to preliminary values following these thresholds:
  • Greater than 2% of the Equalized Value or TID Value – will adjust the 2023 value
  • 2% or less of the Equalized Value or TID Value – will make an adjustment to the 2024 value
  • We will not apply value changes resulting from an amended Municipal Assessment Report (MAR) filed after the second Monday in June. These changes will become an adjustment to the 2024 Equalized Value.
  • If necessary, DOR will contact the municipal assessor to discuss and confirm changes

Timeline

• August 7 – deadline for municipalities to contact an Equalization Bureau District Office about the preliminary values
• August 15 – DOR publishes the 2023 Final Equalized Values, TID Values, Net New Construction Report and County Apportionment Report, and notifies stakeholders

Available Reports

Statement of Changes in Equalized Values

Includes:

• 2023 total Equalized Values
• 2022 total Equalized Values
• Amount and percent change from 2022
• Prior year corrections
• Detailed adjustments to the Equalized Values

Tax Incremental District Values

Includes:

• 2023 TID values
• 2023 TID value increment
• 2022 TID values
• Amount and percent change from 2022
• Locally assessed TID values
• Manufacturing TID values
• Prior year corrections

Tax Incremental Finance Value Limitation

Includes:

• TID base year
• 2023 TID current value and municipal total
• 2023 TID value increment and municipal total
• 2023 municipal Equalized Values
• 5%, 7% or 12% test

Net New Construction – Summary

Includes:

• 2023 net new construction – amount of net new construction that occurred during calendar year 2022. Note: This may include prior year corrections.
• 2022 Equalized Values
• Net new construction as a percent of the 2022 Equalized Value. Note: This percent is a factor in levy limit calculations.

County Apportionment

Includes:

• 2023 Equalized Values reduced by 2022 TID Increment Values
• 2023 apportionment as a percent of total county value (reduced by total TID increment)
• 2023 TID value increments

Additional Information

For more information on the Equalization process and uses of Equalized Values, review the Wisconsin's Equalized Values publication on our website.

Questions?

Contact the district office in your area.