November 13, 2011
Tax Increment Financing (TIF) is an economic development tool that uses the expected growth (or increment) in property tax revenues from a designated geographic area of a municipality to finance bonds used to pay for goods and services calculated to spur growth in the TIF district. The analysis performed for this study found TIF does not tend to produce a net increase in economic activity; favors large businesses over small businesses; often excludes local businesses and residents from the planning process; and operates in a manner that contradicts conventional notions of justice and fairness.
Tagged as:
Economic development,
Economics,
Tax increment financing,
TIF districts,
Wichita city council,
Wichita city government
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November 8, 2011
Wichita will again chase the dream of “something for nothing” when it considers establishing a tax increment financing, or TIF, district at its December 6th meeting. The following article explains why this is a bad idea.
Tagged as:
Economic development,
Subsidy,
Tax increment financing,
TIF districts,
Wichita city council,
Wichita city government
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