Business Watch: Study shows jump in TIF districts in Iowa
“Between 2000 and 2012, the number of urban renewal districts using tax increment financing grew to 1,614 from 1,125, a 43 percent increase, the Iowa Department of Revenue said in a study.
Tax increment financing, commonly known as TIF, permits local governments to use expected increases in property tax revenues to pay for infrastructure improvements.
Of the $8.1 billion in TIF incremental valuation for which a purpose was stated, 89 percent was associated with economic development. Only 11 percent was aimed at eliminating slums or blighted areas.”
Des Moines Register 10 January 2014.
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