What is Tax Increment Financing?

Tax Increment Financing is a public financing tool used to subsidize municipal economic development projects, including removing blighted conditions, infrastructure, redevelopment, rehabilitation, and other community improvement projects. When a TIF district is established, the amount of property and sales tax generated is set as the district’s base amount. As redevelopment takes place, any tax collected above the base amount is reinvested into the area to fund urban renewal projects and improvements.

Show All Answers

1. About LURA
2. What is urban renewal?
3. What is "blight"?
4. What is Tax Increment Financing?
5. What is LURA's role in the community?
6. Why is urban renewal important?
7. What financing is available through LURA?
8. Does being in an urban renewal area affect my property tax or property value?
9. Why would I, a property/business owner, want to be included in an urban renewal area? What will the urban renewal plan do for me?
10. Does LURA only work on redevelopment and demolition projects?
11. How long does urban renewal last?
12. How can I get in contact?