TIF #4 Success; Closed: Re: [Evansville Observer] 2/13/2006 11:52:39 AM

(Ed. note:  This comment re: TIF #4 dates to 2/13/2006 but I thought it good to review the final outcome, which was success.)

billconnors <noreply-comment@blogger.com> wrote:

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The Stoughton Trailers plant never has been tax exempt. The State of Wisconsin, not the city assessor, determines the value of manufacturing plants for property tax purposes. As of Jan. 1, 2005, the total equalized value of the real property (i.e., land and building, but not equipment) for Stoughton Trailer's plant was $7,086,200, and the net real property tax payable in 2006 is $164,437.05. As of Jan. 1, 2004, the total equalized value of the real property was $7,086,700, and the net real property tax payable in 2005 was $181,596.47.

The Stoughton Trailers plant and subsequent expansion generated so much tax increment that the bonds were paid off and the district was shut down ahead of schedule.

Bill Connors
Evansville City Administrator

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Posted by billconnors to Evansville Observer at 2/13/2006 11:52:39 AM