Aug. 16, 2026 9:45p
(WGTD)---The Mt. Pleasant Village Board appears poised to close out a tax incremental financing district early, potentially benefiting property taxpayers.
Such districts are used to incentivize private development and finance public infrastructure by allowing a municipality to borrow against the anticipated future assessed value of the district.
In 2006, the village board created its first TID. It covers both sides of Hwy. 20 near I-94. Over time, the district facilitated the development of new industrial buildings, offices, stores and a hospital.
The district's assessed value grew from $4.3 million in 2006 to $166 million, according to a village spokesperson. Altogether, the village spent $45 million on incentives and infrastructure improvements.
While the district is scheduled to expire in 2033, the village board next week will consider ending the district early in 2027. All of the property tax revenue collected from the businesses and industry within the district would then flow directly to the village, Racine Unified, Racine County and Gateway Technical College.
By 2027, the TID is expected to have $3 million in unspent funds.
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