Category: Tax, Increment Financing
Tax Increment financing is a method of reallocating property tax revenues which are produced as a result of an increase in taxable valuation within a tax increment area. Tax increment financing areas are created as a means to maximize property tax dollars within particular areas, in order to pay the cost of public improvement projects (streets, water, sewer, etc.) or direct economic development grants or loans to private enterprise as an incentive to locate or expand within the tax increment financing area.
*Contact Jackson County Economic Alliance for more information regarding this incentive, (563) 652-4549.