An Act to amend 60.23 (32) (b) 1. of the statutes; Relating to: allowing the Town of Three Lakes in Oneida County to create a tax incremental district in the same manner as a city or village. (FE)
Impact
The amendment to the statutory language provides the Town of Three Lakes with new authority that aligns its capabilities with those already granted to various cities and villages. Previously, towns needed to meet certain population and property value thresholds to establish a TID; however, this bill positions Three Lakes similarly to towns like Brookfield and Gibraltar, which already have this advantage regardless of demographic and fiscal limitations. This change can lead to increased opportunities for economic growth in the region, allowing for enhanced investment in local infrastructure and development projects.
Summary
Senate Bill 821, introduced by Senator Felzkowski and co-sponsored by Representative Swearingen, seeks to amend the existing statutes to allow the Town of Three Lakes in Oneida County to create a tax incremental district (TID) using the same procedures applicable to cities and villages. This legislative change is significant as it loosens the restrictions currently imposed on towns, enabling them to engage in economic development initiatives more effectively. Notably, specific eligibility criteria that apply to other towns are bypassed for Three Lakes, which marks a deviation from the standard legislative framework.
Contention
While the bill primarily aims to bolster local economic development, it may also provoke discussions regarding the equitable distribution of such powers among different towns. Critics may raise concerns about whether this special provision for Three Lakes is justifiable when compared to towns that remain subject to stricter TID creation requirements. Additionally, the implications of creating TIDs—such as potential impacts on local tax revenues and public services—could become points of contention. Furthermore, some stakeholders might argue that easing these restrictions could lead to disparities in development across rural and urban areas of the state.
Crossfiled
An Act to amend 60.23 (32) (b) 1. of the statutes; Relating to: allowing the Town of Three Lakes in Oneida County to create a tax incremental district in the same manner as a city or village. (FE)
Maximum life and allocation period for Tax Incremental District Number 9 in the village of DeForest and the total value of taxable property that may be included in tax incremental financing districts created in the village of DeForest. (FE)
Maximum life and allocation period for Tax Incremental District Number 9 in the village of DeForest and the total value of taxable property that may be included in tax incremental financing districts created in the village of DeForest. (FE)
Broadband expansion grants for cities, villages, towns, and counties and telecommunications-related construction projects of cities, villages, and towns. (FE)
Broadband expansion grants for cities, villages, towns, and counties and telecommunications-related construction projects of cities, villages, and towns. (FE)
Limitations on the total value of taxable property that may be included in, and the lifespan of, a tax incremental financing district created in the city of Middleton. (FE)
Limitations on the total value of taxable property that may be included in a tax incremental financing district created in the city of Port Washington. (FE)
Authorizes the adoption or amendment of comprehensive rezoning plans by cities, villages, and towns prior to the completion of corresponding city, village, or town comprehensive plans.