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AB985: Bill Text
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2025 - 2026 LEGISLATURE
LRB-5294/1
EVM:cdc
2025 ASSEMBLY BILL 985
January 30, 2026 - Introduced by Representatives
Arney
,
Moore Omokunde
,
Ortiz-Velez
,
Rivera-Wagner
,
Roe
,
Stroud
and
Stubbs
, cosponsored by Senators
Drake
,
Dassler-Alfheim
,
Larson
,
Roys
and
Spreitzer
. Referred to Committee on Local Government.
AB985,1,3
1
An Act
to amend
66.0602 (1) (d);
to create
66.0602 (2g) of the statutes;
2
relating to:
levy increase limits in political subdivisions with qualifying
3
parking lot redevelopment.
Analysis by the Legislative Reference Bureau
Generally, under current law, local levy limits are applied to the property tax levies that are imposed by political subdivisions. A political subdivision may not increase its levy by a percentage that exceeds its “valuation factor,” which is the greater of 0 percent or the percentage change in the political subdivision’s equalized value due to new construction, less improvements removed (net new construction).
This bill changes the net new construction component of the valuation factor by adding valuation increases due to certain parking lot redevelopment, multiplied by 1.5, to the new construction value used in the net new construction calculation.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
AB985,1
4
Section
1
.
66.0602 (1) (d) of the statutes is amended to read:
AB985,2,11
1
66.0602
(1)
(d) “Valuation factor” means a percentage equal to the greater of
2
either the percentage change in the political subdivision’s January 1 equalized
3
value due to new construction less improvements removed between the previous
4
year and the current
the annual development percentage calculated under sub. (2g)
5
or 0 percent.
For a tax incremental district created after December 31, 2024, and
6
for Tax Incremental District Number 10 created by the common council of the city of
7
Evansville, and for Tax Incremental District Number 14 created by the common
8
council of the city of Stevens Point, the valuation factor includes 90 percent of the
9
equalized value increase due to new construction that is located in a tax
10
incremental district, but does not include any improvements removed in a tax
11
incremental district.
AB985,2
12
Section
2
.
66.0602 (2g) of the statutes is created to read:
AB985,2,19
13
66.0602
(2g)
Calculation of valuation factor.
(a) “Qualifying parking lot
14
redevelopment” means the construction of one or more commercial, multifamily
15
residential, or mixed-use buildings on a parcel, or on 2 or more adjacent parcels
16
under common ownership or control, where, in the taxation year of the permit
17
application, at least 40 percent of the combined parcel area was devoted to paved
18
surface vehicle parking that was in use and taxed as part of the assessed value of
19
the parcels, as of January of the prior year.
AB985,2,23
20
(b) Except as provided in par. (c), the annual development percentage of a
21
political subdivision is the percentage change in the political subdivision’s January
22
1 equalized value due to new construction less improvements removed between the
23
previous year and the current year.
AB985,3,6
24
(c) 1. For a tax incremental district created after December 31, 2024, and for
1
Tax Incremental District Number 10 created by the common council of the city of
2
Evansville, and for Tax Incremental District Number 14 created by the common
3
council of the city of Stevens Point, the annual development percentage includes 90
4
percent of the equalized value increase due to new construction that is located in a
5
tax incremental district, but does not include any improvements removed in a tax
6
incremental district.
AB985,3,11
7
2. If qualifying parking lot redevelopment occurred in a political subdivision
8
between the previous year and the current year, any increase in equalized value due
9
to the qualifying parking lot redevelopment multiplied by 1.5 is added to the
10
equalized value due to new construction when calculating the annual development
11
percentage of the political subdivision.
AB985,3
12
Section
3
. Effective date.
AB985,3,13
13
(
1
)
This act takes effect on the January 1 after publication.
AB985,3,14
14
(end)
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