With shrinking state aid and growing needs, local governments are constantly searching for ways to increase their tax base. One significant tool in the toolbox of local governments in Wisconsin is Tax Incremental Financing (TIF). Through TIF, municipalities aim to attract private development through incentives which leverage future property tax growth to pay for certain aspects of private and public infrastructure supporting the development. Originally aimed at addressing urban blight, legislative enactments over the past few decades have significantly broadened TIF’s applicability and, consequently, diluted its intended purpose. Along the way, the statute’s subjective definitions and limited conditions have not provided an adequate check on the tool’s misuse. Subsequently, absent meaningful reform, TIF’s strategic and influential muscle to address urban blight will continue to diminish. Past calls for reforming TIF have typically supported tinkering changes around the edges, often advocating for even more extended flexibilities and expanded applications. This Comment challenges the notion that piecemeal, reactionary legislative changes are enough to realign TIF with its original purpose and responsibly protect taxpayers. Instead, legislators should support comprehensive reforms that improve clarity and predictability, increase measured objectiveness, and decrease financial risks. Through analyzing historic and contemporary uses and misuses as well as risks and rewards of TIF in Wisconsin, this Comment proposes specific statutory changes to uphold TIF’s original purpose and better protect taxpayers.