79.0965 State aid; repeal of personal property tax; exemptions.

522 words·~2 min read·/wi/chapter-79/79-0965-4

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

(1)Beginning in 2025, the department of administration shall pay to each taxing jurisdiction, as defined in s. 79.095

(c), an amount equal to the property taxes levied on the items of personal property described under s. 70.111

(28)for the property tax assessments as of January 1, 2023.

(1m)Beginning in 2027, the department of administration shall pay to each taxing jurisdiction, as defined in s. 79.095

(c), an amount equal to the property taxes levied on property described under s. 70.11

(49)for the property tax assessments as of January 1, 2025.

(a)Each municipality shall report to the department of revenue, in the time and manner determined by the department, the amount of the property taxes levied on the items of personal property described under s. 70.111

(28)for the property tax assessments as of January 1, 2023, on behalf of the municipality and on behalf of other taxing jurisdictions.

(b)Each taxing jurisdiction shall report to the department of revenue, in the time and manner determined by the department, any information the department considers necessary to administer this section.

(c)If a municipality does not timely electronically file the report required by the department of revenue under par.

(a), the following reductions will be made to the municipality’s personal property aid distributed under sub.

(1)in 2025:

1. Reduction of 25 percent, if not filed by June 30, 2024.

2. Forfeiture of the municipality’s aid under sub.

(1), if not filed by July 15, 2024.

(d)If a municipality does not electronically file the report required by the department of revenue under par.

(a)by July 15, 2024, the department may use the best information available to calculate the aid to distribute under sub.

(1)in 2025 to the applicable taxing jurisdictions.

(2m)Each municipality shall report to the department of revenue, in the time and manner determined by the department, the amount of the property taxes levied on property described under s. 70.11

(49)for the property tax assessments as of January 1, 2025, on behalf of the municipality and on behalf of other taxing jurisdictions.

(3)Each taxing jurisdiction shall attribute to each tax incremental district within the taxing jurisdiction the district’s proportionate share of the amount the taxing jurisdiction receives under subs.

(1)and

(1m). The amount that would have been paid to a tax incremental district under this subsection shall be distributed to the municipality and applicable taxing jurisdictions in the year following the termination of the tax incremental district and in each year thereafter.

(4)The department of revenue shall certify the amount of the payment due each taxing jurisdiction under sub.

(1)to the department of administration, and the department of administration shall make the payment on or before the first Monday in May.

(5)The department of revenue shall certify the amount of the payment due each taxing jurisdiction under sub.

(1m)to the department of administration, and the department of administration shall make the payment on or before the first Monday in July.