Important Things Residents in Rural Economic Enterprise Zones should know . . . What is a TIF?

Local Tax Increment Financing (Local TIF) permit the use of a portion of the local property and sales tax to assist funding the redevelopment of certain designated areas within your community.  Additionally, TIF may be used to pay certain costs incurred with a redevelopment project. Such costs may include, but are not limited to:

  • Professional services such as studies, surveys, plans, financial management, legal counsel
  • Land acquisition and demolition of structures
  • Rehabilitating or repairing existing buildings on site
  • Building necessary new infrastructure in the project area such as streets, sewers, parking, lighting
  • Relocation of resident and business occupants located in the project area

For more information regarding Tax Increment Financing, please visit the following webpage:

http://www.missouridevelopment.org/community%20services/Local%20Finance%20Initiatives/Tax%20Increment%20Financing.html

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1 Comment

  1. Pingback: Important Things Residents in Rural Economic Enterprise Zones should know . . . What is a TIF? | Economic Developer

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