August 30, 2023
To:
TID Lists, Assessors
Municipal Clerks and Treasurers
Note: Disregard this message if you do not have a Tax Incremental District (TID) in your municipality.
The Wisconsin Department of Revenue (DOR), State and Local Finance Division is providing additional information about the impact of
2023 Wisconsin Act 12 to Tax Incremental Districts (TIDs).
General 2023 WI Act 12 Information
- Effective – January 1, 2024
- Exempts certain personal property from taxation
- Allows municipalities with TIDs affected by this change to request DOR adjust a TID’s base value to account for exempt personal property
Details
- Due date – October 31 to request an adjustment effective in the following tax year
- DOR will review requests received:
- By October 31, 2023 – for adjustment in the 2024 tax year
- Between November 1, 2023 and October 31, 2024 – for adjustment in the 2025 tax year
Process
- Review TID's creation or territory addition documents to identify and determine the amount of personal property included in a TID's base value.
Note: Personal property currently assessed in the TID may be different than the personal property included in the TID's base value
- Complete the
Personal Property Removal Workbook if any personal property will be exempt in 2024
- List all personal property included in the TID base value that is tax exempt starting as of January 1, 2024
- Do not include personal property assessed as real estate (ex: buildings on leased land)
- If you are unsure whether personal property included in the TID's base value is tax exempt in 2024, review with your municipal assessor
- Email the completed Personal Property Removal Workbook to
tif@wisconsin.gov
- DOR reviews and adjusts the TID's base value, as necessary
- DOR emails a recertification letter after completing the adjustment
Additional Information
Questions?
Contact us at tif@wisconsin.gov