DMI TIF White Paper
DMI TIF White Paper
Tax incremental financing (TIF) is a financial tool that can be used to promote tax base expansion and job creation. It is targeted toward geographic areas that have become blighted, or are in need of rehabilitation or conservation work, or to promote industrial development or “mixed-use” development in areas which are experiencing declining value.
TIF allows municipalities to invest in infrastructure and other improvements, and pay for these investments by capturing property tax revenue from the newly developed property. A well planned and executed TIF project has many possible benefits including an increased tax base for the city, school district, county, and technical college, the elimination or reduction of blighted areas, the rehabilitation of areas declining in value, the creation of new jobs and income, and the creation of a partnership for economic development among the city, school district, county, and technical college.
DMI has and continues to be a resource on TIF and has produced a TIF White Paper that provides a detailed overview of the purpose, intentions, potential benefits, possible risks, and additional facts of this useful financing tool. Also for more information on TIF and to view the City of Madison’s TIF Policy, click here.