WI SB696

Increases the maximum percentage of a municipality's equalized value that may be contained within tax incremental districts (TIDs) from 12% to 18%

Allows costs of constructing residential buildings and developing, improving, or expanding parks to be included as eligible TID project costs

Removes the 35% cap on land area within mixed-use TIDs that can be designated for newly platted residential use

Repeals 2023 Wisconsin Act 12 changes that limited levy calculations to 90% of new construction value within TIDs created after December 31, 2024

Restores the prior formula for levy limit increases upon TID termination, basing the increase on 50% of the previous year's value increment rather than the lifetime equalized value formula enacted in 2023