PRELIMINARY Net New Construction 2015
Wisconsin Department of Revenue (DOR)
Division of State and Local Finance
The Net New Construction Report provides net new construction numbers. Municipalities and counties use these numbers for levy limits and the expenditure restraint program.
- Amount of Net New Construction – this amount is new construction reduced by any demolition or destruction of buildings
- Levy Limit Percent – is a percentage calculated by dividing the current year Net New Construction by the prior year Equalized Value of a municipality or county
Net New Construction Report vs. Statement of Changes in Equalized Value Report:
- Net New Construction Report – reports net construction numbers that include removal of buildings (demolition) and corrections to the prior year
- Statement of Changes in Equalized Values Report – the new construction column reports the total new construction and higher land utility for each class. The column does not include removal of buildings (demolition) or corrections to the prior year.
- Counties and municipalities use the percentage of net new construction as a valuation factor in determining the allowable levy
- DOR will post the county and municipal levy limit worksheets in September 2015
- Levy Limit Common Questions
Expenditure Restraint Program (ERP):
- Municipalities use the net new construction as a valuation factor in calculating ERP
- Municipalities use the ERP calculation to determine their allowable increase in general fund expenditures for the coming year (2016)
- DOR sends municipalities the Valuation Factor Notice in October 2015
If you have questions, contact the Equalization Bureau District Office in your area.
July 31, 2015
Updates were made to the code or formatting on this page as of July 31, 2015. This date does not reflect the effective date or any other date relating to the content of this page.