November 21, 2011
High business property taxes in Wichita cause officials to take an “active investor” role in economic development, despite evidence that this approach does not work.
Tagged as:
Economic development,
Economics,
Kansas state government,
Sedgwick county government,
Subsidy,
Tax abatements,
Taxation,
Wichita city council,
Wichita city government
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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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