Weston Municipal Center. MWC photo by Mike Leischner
WESTON, WI (WSAU) — What was once one of the largest Tax Increment Finance Districts in Wisconsin is officially slated for closure.
Trustees in Weston voted unanimously to close TIF #1 on Monday, five years ahead of schedule. Village Administrator Jami Gebert says that after looking at the final numbers for the 2026 budget, there is enough to pay the district’s debts, including the Weton Avenue project, which was completed over three years. “Now that the project is complete and the bills have been submitted, we knew where we are at,” said Gebert. “And whether we could cover the debt, interest, and any other outstanding payments within the TID.”
Under state law, municipalities have the option to capture one year of increment to set aside for future housing projects, but Gebert says the board wasn’t interested in using that tactic. “At this point, if we can cover our expenses and pay off the TIF- that was what they [the board] wanted, and tonight, approved.
The district was created in 1998 and was scheduled to stay open through 2031. Gebert and Finance Director Jessica Trautman both said it is too soon to tell what the closure will mean for next year’s village budget and the county, school district, and technical college. It’s also unclear if the move will help the SAFER district hire additional firefighter/paramedic positions after voters turned down a funding referendum last week. “Absolutely too early to tell. We will work that through this fall [during the] budget process. I know SAFER’s board also has a conversation next week as a follow-up to the referendum. There are some things on their agenda that they are already proposing, and I’m sure they will bring items back to the Village Board for consideration.”
Tax bills are typically split four ways. Properties in a Tax Increment Finance district have their bills split five ways. The first 12% goes to fund infrastructure and development projects in the district, with the remaining 88% split between the local municipality, county, school district, and technical college.
The decision came in a special Village Board meeting on Monday to beat an April 15th deadline to notify the state of the decision.
Comments