State Street Reconstruction | Madison, WI

Proposed Tax Incremental Financing Changes White Paper

David Rasmussen | with 0 Comments

Proposed Tax Incremental Financing Changes White Paper

The Wisconsin Joint Legislative Council appointed Dave Rasmussen, MSA senior planner, Rice Lake, to the Legislative Council Study Committee on the Review of Tax Incremental Financing (TIF). He was one of 12 public members on the committee, which met monthly between July and November of 2014 to make recommendations regarding the future of TIF Law in Wisconsin.

The committee studied and reviewed the intent behind TIF laws and how TIF is utilized by cities, villages, towns, and counties. Based on its evaluation, the committee recommended legislation that could improve the effectiveness of TIF laws. Committee members studied how these laws impact a local governmental unit’s finances and property taxes; economic and community development; and job growth.

After hearing testimony from municipal officials, the Department of Revenue and others, the committee debated a total of approximately 30 changes to Wisconsin’s TIF law. Members combined these changes into eight broader recommendations, which are summarized in the following pages.

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