Tuesday, October 03, 2006

TIF are Bad idea.

TIFs are Tax Increment Financing districts. They work by allowing townships or cities to lock in the taxable worth of real property. Payments derived from the increased assessed value of any improvement to the property beyond the locked-in amount are directed toward a separate fund to finance the construction of public infrastructure, such as roads. TIFs do not levy additional taxes onto residents.

The TIF districts will divert future property taxes from Southwest Licking Local Schools for road improvements.

If you pass the TIF then be prepared to pass another bond levy for your schools. Plus any other improvements not stated in the TIF. The TIF locks the funds. You don't have the ability to meet your needs if the arise elsewhere.

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