What is Tax Increment Financing (TIF)?

Tax Incremental Finance (TIF) is a financing tool that allows municipalities to invest in infrastructure and other improvements, and pay for these investments by capturing property tax revenue from the newly developed property. An area is identified as the tax incremental district (TID) as appropriate for a certain type of development, and projects are identified to encourage and facilitate the desired development. Then as property values rise, the property tax paid on that private development is used by the municipality to pay for the projects. The tax paid to the schools, county and technical college districts (the overlying taxing jurisdictions) is also used by the municipality to pay for the improvements. After the costs of the projects are paid off, the TID is closed and the value of all the new development gets shared by the municipality, schools, county and technical college as it does for other property.

Village Tax Increment Financing Districts (TIDs)

Companies interested in locating in Kronenwetter are encouraged to take advantage of the excellent land development opportunities available within the Village’s four Tax Increment Districts (TIDs).  The Village’s TIDs offer diverse opportunities for businesses and industry poised to take advantage of Kronenwetter’s ideal Central Wisconsin location and low property tax rate.  Perfectly located adjacent to Interstate 39/Highway 51 and a short drive from the Central Wisconsin Regional Airport (CWA), the Village of Kronenwetter offers many prime locations for immediate access to ground and air transportation within the region.

Kronenwetter Tax Increment Map

Tax Increment District #1 & Business Park

TID #1 was created in 2004 and is the Village’s largest district at 388.22 acres.  Located in the northwestern portion of the Village, the district is adjacent to Interstate 39 and Kowalski Road.  The purpose of this TID is to promote industrial development and thereby assist in furthering the employment goals of the area to provide incentive for private investment in the Village of Kronenwetter.  The district is made up of parcels zoned as Business Park (BP) north of Kowalski Road and General Industrial (M2) south of Kowalski Road.  Many prime large parcels make up this district, with parcels of 170 acres, 37 acres, 34 acres, and 22 acres ready to meet your large development needs.

TID 1 Map_pdf

Tax Increment District #2

TID #2 was created in 2004 and amended in 2005 and is the Village’s second largest district at 200.21 acres.  Located in the southwestern portion of the Village, the district is adjacent to Interstate 39 with Kronenwetter providing access to much of the district.  TID #2 is the Village’s only mixed-use district.  The purpose of this TID is to promote mixed-use development and thereby assist in furthering the employment goals of the area to provide incentive for private investment in the Village of Kronenwetter.  The district is made up of parcels with various zoning designations, such as Business Park (BP), Limited Industrial (M1), Single Family Residential (R1), Multi-Family Residential (R4), Suburban Residential (SR), and Agriculture 1 (AG-1).  There are many prime building locations located between Interstate 39 and Kronenwetter Drive that offer excellent interstate visibility and great access thanks to the newly constructed Maple Ridge Interchange (exit 181).  Additionally, great home sites are still available on the east side of Kronenwetter Drive.

TID 2 Map

Tax Increment District #3

TID #3 was created in 2004 and is 36.67 acres.  Located in the western portion of the Village, the district is located south of Cedar Road and east of Old Highway 51.  The purpose of this TID is to promote industrial development and thereby assist in furthering the employment goals of the area to provide incentive for private investment in the Village of Kronenwetter.  The district is entirely made up of parcels zoned General Industrial (M2).

TID 3 Map(1)

Tax Increment District #4

TID #4 was created in 2004 and is the Village’s smallest district at 32.69 acres.  Located in the western portion of the Village, the district is adjacent to Interstate 39 and Kronenwetter Drive.  The purpose of this TID is to promote industrial development and thereby assist in furthering the employment goals of the area to provide incentive for private investment in the Village of Kronenwetter.  The district is entirely made up of parcels zoned as Limited Industrial (M1).  One last opportunity exists to join site your business in this great location.  The vacant parcel, with 5 buildable acres, is located south of M&J Marine and is shovel ready.

TID 4 Map