What is a TIF?
Tax Increment Financing (TIF) is a means of using the increase in tax revenue of a legally defined group of properties zoned for commercial use to pay for infrastructure or other projects that encourage business development. After a number of commercially zoned parcels are legally and formally formed into a TIF district, all of the future tax revenue in excess of the taxes that were paid before the TIF district was formed are placed in a TIF fund to be used to make approved capital improvements to attract business development.
