Relating to: equalized value calculations, project costs, and local levy limits relating to tax incremental districts. (FE)

SB 696 amends Wisconsin's rules for tax incremental districts (TIDs), which local governments use to finance development projects through future property tax revenues. It reduces a 12% tax levy limit to 5% for the town of Cable, adds park development costs to eligible project expenses, and adjusts how property value increases are calculated after TID termination. These changes directly affect cities and towns operating TIDs by altering how they determine tax levy limits and what projects qualify for TID financing. The bill simplifies calculations for property value increments and ensures consistent application of levy limits across districts.