74.42 Charge back of personal property taxes; subsequent distributions.

249 words·~1 min read·/wi/chapter-74/74-42

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Charge back. No earlier than February 2 and no later than April 1, the taxation district treasurer may charge back to each taxing jurisdiction within the taxation district, except this state, its proportionate share of those personal property taxes for which the taxation district settled in full the previous year, which were delinquent at the time of settlement, which have not been collected in the intervening year, and which remain delinquent, if the taxes are owed by an entity that has ceased operations, or filed a petition for bankruptcy, or are due on personal property that has been removed from the next assessment roll. At the same time, if there are charge-backs, the taxation district treasurer shall charge back to the county the state’s proportionate share of those taxes. No later than the first May 1 after receipt of a notice of a charge-back, the taxing jurisdiction shall pay to the taxation district treasurer the amount due, and the state shall pay to the proper county treasurer the amount due.

(2)Subsequent distributions. An amount equal to any delinquent personal property taxes charged back under sub.

(1)which are subsequently collected by the taxation district, minus the cost of collecting those taxes, shall be proportionately distributed to each taxing jurisdiction to which the delinquent taxes were charged back under sub.

(1). Distributions under this subsection shall be made on May 15, August 15, November 15 and February 15.