The Village currently has two active Tax Incremental Financing (TIF) districts, also known as TIDs, as described below. Included are links to the project plans, project plan amendments (if any), and the latest TID reports.
The State of Wisconsin under statute 66.1105 allows a municipality to undertake a public project to stimulate beneficial development or redevelopment that would not otherwise occur. It is a mechanism for financing local economic development project in underdeveloped and blighted areas. The taxes generated by the increased property values pay for land acquisition or needed infrastructure improvements. All property tax revenue from a tax district is used within the district until all costs of the improvements are recovered.
- Tax Incremental District No.3 (Open) - is located at the corner of Highway PB and Highway 69. The UW Clinic was the first building to enter the TIF and was completed in 2010. TID No. 3 is a mixed-use district. The total acreage of the TID includes 117.1 acres of land. The District is suitable for a combination of commercial and residential. Lands proposed for newly platted residential development comprise 9% of the area of the District.
- Tax Incremental District No.4 (Closed) - was created as an “Industrial District” as at least 50%, by area, of the real property within the District is zoned and suitable for industrial sites. This area is located in northeastern Belleville, west of River Street between Greenway Cross Court and 5th Avenue.
- Tax Incremental District No.5 (Open) - was created as a rehabilitation or conservation district. The District includes two primary areas: (1) the Landmark/Old Railroad Corridor Section, and (2) the historic commercial downtown.
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