How does it work?

This Plan encourages a cooperative effort from the affected taxing jurisdictions to benefit the community as a whole. Each jurisdiction will continue to receive the ad valorem taxes as currently distributed. However, new ad valorem revenue increases (the "increment") will be deferred and reinvested in the project area for twenty five years or until $32.5 million is reached, whichever comes first. The Project Plan provides that each taxing jurisdiction except the City will split the first 12% of increment increase realized.

Show All Answers

1. What does this Plan do?
2. Where are the boundaries of the Plan?
3. Who is affected?
4. Is this a new tax?
5. How does it work?
6. Has there been support from local business owners?
7. Are there any other cities using TIF?
8. Are projects completed without a TIF?
9. How is the community as a whole impacted?
10. Is growth limited to the TIF boundary?
11. What are the project area's designations?