Municipal Tax Incremental Finance (TIF) (sec. 66.1105 (17), Wis. Stats.)
Simultaneous Creation and Subtraction
- In specific situations, a new Tax Incremental District (TID) and a territory subtraction can take place simultaneously without adopting a resolution with the 12% limitation. If the municipality does not adopt the resolution, the four criteria below must apply. When submitting your packet, you must include documentation showing these apply:
- The new TID and TID with the territory subtraction must be in the same municipality
- Document showing revenue appraisals from certified appraisers. The documents must include:
- Appraisal showing the current fair market value of the taxable property in the new TID
- Second appraisal showing the fair market value of the taxable property that is being subtracted from the existing TID
- Fair market value of the property that is subtracted must equal or exceed the fair market value of the new TID
- Municipality must certify that no other TID was created under this section and paragraph of the statutes (sec. 66.1105 (17), Wis. Stats.)
- If you amend a TID after October 1, you must complete and submit the packet forms to DOR on or before October 31 of the following year based on the creation date. You must report newly-annexed parcels on separate forms (not on the municipality's set of forms)
- DOR does not start the process of certifying amended base values until after January 1 of the year following creation
- Tax Incremental Financing Remittance Fee – After you notify DOR that your municipality created and amended a TID, we will send you a bill through "My Tax Account"
- DOR amends a TID's value by subtracting the additional parcels (using the appropriate equalized value) from the existing base value
Completing the packet
It is essential that you accurately complete both sets of forms (Creation and Subtraction packets), since mistakes could mean your TID does not get certified. Use consistent identification numbers on the forms and required maps.
Creation Packet information – review Municipal Base Year Packet
Subtraction Packet information – review Municipal Territory Subtraction Amendment Packet
To send your completed forms by email, click the Attach Documents button.
Note: This opens an email to attach the files.
Complete and return the appropriate forms to:
Wisconsin Department of Revenue
Attn: Office of Technical and Assessment Services
PO Box 8971, MS 6-97
Madison, WI 53708-8971
Phone (608) 266-5708
Fax (608) 264-6897
Email additional questions to firstname.lastname@example.org
June 11, 2014
Updates were made to the code or formatting on this page as of December 29, 2014. This date does not reflect the effective date or any other date relating to the content of this page.