August 1, 2024
To: County Clerks, County Treasurers, Real Property Listers, Register of Deeds,
Primary Assessors Statutory Assessors, Municipal Clerks, Municipal Treasurers, TID Subscriber List
Today, the Wisconsin Department of Revenue (DOR) posted its preliminary 2024 Equalized Values, Tax Incremental District (TID) Values, Net New Construction NNC) Report, and County Apportionment Report.
DOR posts the 2024 preliminary Equalized Values, providing each municipality an opportunity to review the values before we certify them on Thursday, August 15.
Assessed Value Information
- Municipal value changes are based on the Municipal Assessment Reports DOR
received by the June 10, 2024 filing deadline
- Municipal assessed value changes are part of the equalized, TID, and NNC values
- See "Guidelines for Warranted Changes" below for information on changes made during the preliminary review process
Information Available for Review – August 7 review deadline
-
Net New Construction and TID Values
- Municipal assessor provides the assessed values used by DOR to calculate net new construction and TID full values.
Note: Full values may contain corrections to the prior year's values.
- If you would like to review the assessed values reported to DOR, contact your municipal assessor
-
Equalized Values – reflects all value changes to your municipality
Additional Information
Guidelines for Warranted Changes
- If DOR determines any changes to the preliminary values are warranted, we will make the changes before certifying the values
- DOR will make changes to preliminary values following these thresholds:
-
Greater than 2% of the Equalized Value or TID Value – will adjust the 2024 value
-
2% or less of the Equalized Value or TID Value – will make an adjustment to the 2025 value
- We will not apply value changes resulting from an amended Municipal Assessment Report (MAR) filed after the second Monday in June. These changes will become an adjustment to the 2025 Equalized Value.
- If necessary, DOR will contact the municipal assessor to discuss and confirm changes
Timeline
-
August 7 – deadline for municipalities to contact an
Equalization Bureau District Office about the preliminary values
-
August 15 – DOR publishes the 2024 Final Equalized Values, TID Values, Net New Construction Report and County Apportionment Report, and notifies stakeholders
Available Reports
Statement of Changes in Equalized Values
Includes:
- 2024 total Equalized Values
- 2023 total Equalized Values
- Amount and percent change from 2023
- Prior year corrections
- Detailed adjustments to the Equalized Values
Tax Incremental District Values
Includes:
- 2024 TID values
- 2024 TID value increment
- 2023 TID values
- Amount and percent change from 2023
- Locally assessed TID values
- Manufacturing TID values
- Prior year corrections
Tax Incremental Finance Value Limitation
Includes:
- TID base year
- 2024 TID current value and municipal total
- 2024 TID value increment and municipal total
- 2024 municipal Equalized Values
- 5% , 7% or 12% test
Net New Construction – Summary
Includes:
- 2024 net new construction – amount of net new construction that occurred during calendar year 2023.
Note: This may include prior year corrections.
- 2023 Equalized Values
- Net new construction as a percent of the 2023 Equalized Value.
Note: This percent is a factor in levy limit calculations.
County Apportionment
Includes:
- 2024 Equalized Values reduced by 2023 TID Increment Values
- 2024 apportionment as a percent of total county value (reduced by total TID increment)
- 2024 TID value increments
Additional Information
For more information on the Equalization process and uses of Equalized Values, review the
Wisconsin's Equalized Values publication on our website.
Questions?
Contact the
district office in your area.