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Two Rivers council approves early termination of TID 13 and TID 16 to return increment to tax rolls
Summary
The Two Rivers City Council voted to terminate Tax Incremental Districts 13 and 16, returning incremental tax revenue to the general tax rolls beginning Jan. 1, 2027; staff said the move will shift modest annual revenue into the general fund and to other taxing jurisdictions.
The Two Rivers City Council voted on March 17 to approve resolutions terminating Tax Incremental Districts (TID) 13 and 16, returning the incremental tax value of those districts to the regular tax rolls beginning Jan. 1, 2027.
City staff told the council that TID 13, created in February 2020 to support a proposed Culver’s restaurant that is not moving forward, has no active redevelopment in the pipeline and therefore should be closed. Staff said the city must notify the Wisconsin Department of Revenue by April 15 to effect the termination and that the reallocation of increment will begin on Jan. 1, 2027.
The sta…
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