Town Tax Incremental Finance (TIF) (Sec. 60.85, Wis. Stats.)
Base Year Packet
The Town Tax Incremental Finance Law, was approved by the Wisconsin Legislature in 2004 as a financing tool that towns could use to help pay for specific agricultural, forest, manufacturing and tourism activities as classified in the North American Industry Classification System (NAICS), 1997 edition. For additional information on these activities, go to the Summary of Eligible Projects for Town TIF.
All the forms needed to complete a Town Tax Incremental District (TID) creation application packet are available on this page. In addition to the forms that list the valuation information for the property within the TID, there are several helpful documents that explain TIF and checklists. It is essential that you complete the application packet accurately; mistakes could mean that a TID does not get certified.
The Department of Revenue (DOR) uses the information on the forms to establish the district's base value and to verify that proper legal procedures were followed. When completing these forms, use consistent identification numbers on the forms and on the required maps. These must be completed and submitted to the DOR on or before December 31 of the creation year. The process of certifying base values does not begin until after January 1 of the year following creation.
|Excel format||Contains all of the necessary forms. The best practice is to open the workbook, save it to your computer (remember location), and then go offline to complete the forms.|
|Tax Incremental Financing Remittance Fee
Note: All fees will be transmitted electronically through "My Tax Account." Upon notification that a TID has been created, a bill will be generated in "My Tax Account" for payment.
|PE-207T||A Guide to Wisconsin's Tax Increment Law - Creating a Town District (4/13) - has detailed information on required class 2 notices in accordance with ch. 985, Wis. Stats.|
|PE-212||Tax Incremental Finance - An Intergovernmental/Private Partnership (9/08)|
|PE-213||Municipal (City/Village/Town) TIF - Joint Review Board Supplemental Data (9/08)|
|PE-215||Municipal (City/Village/Town) TIF - Common Language Guidelines for Project Plans (9/08)|
|PE-221T||Town TIF Districts Timeline for Creation (1/10)|
|60.85 Law||Composite Town Tax Increment Law (4/11)|
|NAICS||Summary of Eligible Projects for Town TIF (9/08)|
|PE-109||TID Base Year Packet Checklist (3/13) - identifies the forms needed.|
|PE-222||TID Creation Resolution Checklist (11/10) - identifies findings that the local government body must contain in their resolution.|
Complete and return the appropriate forms for creating a Town TID to:
Wisconsin Department of Revenue
Attn: Office of Technical and Assessment Services
Mail Stop 6-97, P.O. Box 8971
Madison, WI 53708-8971
Phone (608) 266-5708
Fax (608) 264-6897
Email - firstname.lastname@example.org
Last updated May 1, 2013