October 10, 2023

To: TIF/TID List, Assessors

Cc: 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 reminding municipalities of the upcoming October 31, 2023, deadline to submit a request for a 2024 TID base value adjustment due to personal property exemption.

2023 Act 12 Details

• 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

TID Personal Property Adjustment Deadline

• Due date - October 31
• Email completed Personal Property Removal Workbook to tif@wisconsin.gov
• will review requests received:
  • By October 31, 2023 - for adjustment in tax year 2024
  • Between NOvember 1, 2023 and October 31, 2024 - for adjustment in tax year 2025
  • Common questions - 2023 Act 12 Personal Property Exemption Adjustments

Additional Information

• TIF Base Value Adjustment Request Due to Personal Property Exemption web page
• Personal Property Removal Workbook
• Common questions – 2023 Act 12 Personal Property Exemption Adjustments

Questions?

Contact us at tif@wisconsin.gov.