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Tax Increment Financing (TIF) zones are used as a tool for the eradication of blight, the amelioration of conditions precedent to blight, and a means for municipalities to use the growth in tax revenues produced by an increase in real property taxes generated within a specified, eligible area of the municipality to pay for the costs of (re)developing that area. When created, these revenues are deposited into a separate account (the Special Tax Allocation Fund or TIF Fund) which is controlled by the City. The revenues are then used to pay for a wide variety of permissible redevelopment project costs. |
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Tax Increment Financing (TIF) zones are used as a tool for the eradication of blight, the amelioration of conditions precedent to blight, and a means for municipalities to use the growth in tax revenues produced by an increase in real property taxes generated within a specified, eligible area of the municipality to pay for the costs of (re)developing that area. When created, these revenues are deposited into a separate account (the Special Tax Allocation Fund or TIF Fund) which is controlled by the City. The revenues are then used to pay for a wide variety of permissible redevelopment project costs. |
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City of Richardson, TX |
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<DIV STYLE="text-align:Left;"><DIV><DIV><P><SPAN>TIF area for 2006-2007. Shape generated by personnel in Tax Department from contributing parcels.</SPAN></P><P><SPAN><SPAN>TIF Tax Increment Financing Reinvestment Zone No. 2 also know as the Bush/75 Partners zone. Created by city ordinance No. 3844</SPAN></SPAN></P><P><SPAN>TIF Tax Increment Financing Reinvestment Zone No. 3 also know as the Caruth zone. Created by city ordinance No. 3845 on November 14, 2011.</SPAN></P></DIV></DIV></DIV> |
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This data product is free and open access for personal use and adaptation. City of Richardson is not held liable for data accuracy. It is for informational purposes and may not have been prepared or suitable for legal, engineering, or surveying purposes. It does not represent an on-the-ground survey and represents only the approximate relative location or property boundaries. |
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TIF Zone |
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["TIF","tax increment financing","zones","city","Richardson","polygon"] |
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en-US |
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150000000 |
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