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TIF Program

TAX RATES AND FINANCING

In the District, the following taxes are available for TIF bonds:

Sales Taxes
   
  • Regular
    		•      5.75%
       
  • Restaurant
    		•      9.00% (out of a stated 10%)
       
  • Hotel
    		•      10.05% (out of a stated 14.5%)

    Real Property Tax

    • 60% of all real property tax is pledged for the District's general obligation bonds

    Tax-Increment Financing allows private developers or companies to finance up to 20% of a development's project costs. In accordance with the TIF Act* the District is authorized to issue government revenue bonds to finance the development and redevelopment within one or more Priority Development Areas, or "TIF Area".

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    * This document is presented in Portable Document Format (PDF) and a PDF reader is required for viewing.
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