MONROE - A mistake in reporting property values in Tax Increment District No. 7 for the past several years will not give the City of Monroe much more revenue to pay off any large debt in that district.

In a meeting of the Salary and Personnel Committee Tuesday, Oct. 1, City Administrator Phil Rath explained that the reported 22 percent increase - about $6.9 million - in the 2012 equity value in that district was the total of the past three years - not a one-year increase as it appears on Department of Revenue reports.

The real annual value increase was about 2 percent, or $648,000, in 2012, he said.

According to Rath, one company, Wisconsin Cheese Group, has property in the district and outside the district, but its personal property values for both locations were being reported on only one report form - the site outside TID 7.

The total value of TID 7 is now reported correctly, but he added, "it is catching up for the past couple of years."

The 2 percent value increase for 2012 is more in line with other TIDs in the city, he noted.

TID 4, the northeast industrial park, increased 22 percent; TID 5 on the far west side increased 2 percent; TID 6 on the near west side increased 1 percent; and TID 8 along north 18th Avenue showed no increase.

Although TID 7 will see some extra revenue to spend, Rath advised not re-opening the facade program and not expecting more revenue for use on the downtown parking ramp.

"Hopefully, we can pay off the (TID 7) debt service this year," he added.

Rath also suggested any additional money could be kept to pay off shortfalls in the TID's future debt service obligations.

The city has supplemented the district revenues with about $200,000 and $117,000 to pay off its annual debt service for 2012 and 2013.

The DOR is making an adjustment, under Sec. 70.57 of the Wisconsin Statutes, to correct the TID values for 2011 ($2,969,300) and 2012 ($3,360,200).

The district was started in 2005 as a blighted area, valued at $30 million, and is scheduled to dissolve in 2027. Last year the district value was at $32.4 million. This year, the district's equalized value was reported at $39.4 million.