Tax Incremental Districts

Tax Incremental District (TID) means a contiguous geographic area within a City defined and created by resolution of the local legislative body, consisting solely of whole units of property as are assessed for general property tax purposes, other than railroad rights-of-way, rivers or highways.  TIDs fund public improvements, incentives, and other investments that enhance the value of properties in the TID.  Tax increment generated is used to cover eligible expenses incurred by the City.
In the City of Beloit, TID 8, 9, 10, 11, 12, and 13 were closed in 2022.  TID 14 (4th Street area), TID 15 (Gateway Business Park), and TID 16 (Prairie Avenue) are open and available for use.  View a map here:  https://www.greaterbeloitworks.com/business/tax-increment-districts
The City is exploring the creation of a TID along Madison Rd.  An informational meeting was held on April 30, 2026 to provide an overview of Tax Incremental Financing (TIF) as a tool and the process for creation of a new TID.  On May 26, 2026, a neighborhood workshop was held to identify potential TID boundaries, redevelopment opportunities, and needed public improvements.  City staff are drafting the TID project plan and maps for future presentation to the public.