TERMIUM Plus®

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TAX INCREMENT FINANCING [1 record]

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Record 1 1987-12-04

English

Subject field(s)
  • Financial and Budgetary Management
  • Real Estate
CONT

Tax increment financing (TIF) offers a development tool for local governments to finance redevelopment projects for central business districts. TIF programs use increased property tax revenues generated by redevelopment to finance a portion of the costs associated with the project. Some advantages of TIF are: 1. Significant capital is provided to economically feasible development projects. 2. Tax revenues collected prior to the development program are retained. 3. Property owners do not pay more than the normal tax burden. 4. Tax increment bonds are not counted against the city's bonded indebtedness. 5. Upon project completion and bond retirement, the full tax base and revenues become available to all taxing bodies.

OBS

Source: Economic Development Review, V. 5, n. 1, pp. 23-27, 1987.

French

Domaine(s)
  • Gestion budgétaire et financière
  • Immobilier

Spanish

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