Wisconsin Authorizes Residential Tax Increment Districts

The Wisconsin Governor signed a law concerning residential tax incremental districts. The law includes: 1) authorizing cities, villages, and certain towns to create residential tax increment districts (TID) to pay for certain infrastructure costs necessary for residential developments: 2) providing that the equalized value of taxable property of a new or amended residential TID, plus the value increment of all existing residential TIDs in the city, village, or town, cannot be more than 3.0 percent of the total equalized value of all taxable property in a city, village, or town; and 3) the maximum lifespan of a residential TID is ...