Net New Construction

 

Net New Construction

  1. What is "net new construction"?
  2. Is "net new construction" calculated including or excluding property in tax incremental financing (TIF) districts?
  3. How does the Department of Revenue (DOR) use net new construction?
  4. Will the DOR use net new construction for other calculations?

 


Net New Construction

  1. What is "net new construction"?

    "Net new construction" includes changes to equalized value due to the construction of new buildings and improvements to land minus changes to equalized value due to the demolishing or destruction of buildings and removal of land improvements. The amount of net new construction for each county and municipality can be found on the DOR's website at: http://www.revenue.wi.gov/equ/nnc.html.

  2. Is "net new construction" calculated including or excluding property in tax incremental financing (TIF) districts?

    "Net new construction" will be calculated based on all taxable property in a municipality or county, including property in TIFs.

  3. How does the DOR use net new construction?

    The DOR uses net new construction as part of the county and municipal levy limits.

  4. Will the DOR use net new construction for other calculations?

    "Net new construction" will continue to be used for purposes of determining the allowable increase in spending under the expenditure restraint program.

 

FOR MORE INFORMATION PLEASE CONTACT:

WISCONSIN DEPARTMENT OF REVENUE
Division of State & Local Finance
Bureau of Property Tax
Local Government Services Section 6-97
P.O. Box 8971
Madison, WI 53708-8971
Phone: (608) 266-8618
Fax: (608) 264-6887
E-Mail Additional Questions

Last updated December 22, 2010