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Rothschild board approves Tax Incremental District No. 3, setting timeline to take effect before Sept. 30
Summary
The Village of Rothschild on Aug. 12 approved Resolution 2024-10 to establish Tax Incremental District No. 3 and its project plan, with leaders saying the district should be in effect before Sept. 30, 2024, and a projected closure in 2044 under a 50% equalized value cap.
The Village of Rothschild Board unanimously approved Resolution 2024-10 on Aug. 12 to formally establish the boundaries and project plan for Tax Incremental District No. 3.
Administrator Ryan VanDeWalle and Adam Ruechel of Baird presented the plan to the board, saying the village is "on track" to have the district in effect before Sept. 30, 2024. They told the board the village aims to close the district in 2044 with a maximum 50% equalized value increase across the district's jurisdictional boundaries.
The measure was moved by Trustee Dan Mortensen and seconded by Trustee Dan Helgeson. A roll-call vote recorded seven ayes; the motion carried unanimously.
Supporters at the meeting said the TID would allow the village to capture incremental tax value for specified public improvements and development within the district boundaries. VanDeWalle and Ruechel outlined the next procedural step: the final Joint Review Board meeting scheduled later in August.
The resolution formalizes the TID boundaries and project plan; subsequent steps will include final review by the Joint Review Board and administrative filings required to activate the district before the stated deadline.
