This is the Texas Comptroller of Public Accounts webinar presentation on Tax Increment Reinvestment Zones as authorized by Tax Code, Chapter 311.
Introduction to TIRZs
What is a TIF and a TIRZ?
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Presentation Notes
Tax increment financing (TIF) is a financing method local governments can use to pay for improvements that will draw private investment to an area. Tax increment financing redirects some of the ad valorem tax from property in a geographic area designated as a Tax Increment Reinvestment Zone (TIRZ) to pay for improvements in the zone. A TIRZ is created by a municipality. State law also allows counties to create tax increment reinvestment zones, but this is currently prohibited by the state constitution. It is important for counties in particular to keep in mind that there are two Attorney General opinions, GA-1076 and KP-0004, which have ruled that counties can not initiate or create of TIRZ because this would violate the “equal and uniform taxation requirement in article VIII, section l(a) of the Texas Constitution.”
TIRZ Registry Status• Tax Increment Reinvestment Zone
Breakdown Jan. 2020 # of TIRZs: 338 Jun. 2019 # of TIRZs: 337 Dec. 2018 # of TIRZs: 317
Jan. 2020 # of counties a TIRZ is located in: 60 Jan. 2020 # of municipalities with a TIRZ: 163 Jun. 2019 # of counties a TIRZ is located in: 60 Jun. 2019 # of municipalities with a TIRZ: 159 Jan. 2018 # of counties a TIRZ is located in: 54 Dec. 2018 # of municipalities with a TIRZ: 145
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Presentation Notes
There are currently 338 TIRZs on file in our registry that we are aware of. Our office is that we are statutorily required to maintain a database on all TIRZs. These TIRZs can now be found on our website and sorted in our recently produced TIRZ Financial Log and it will also be published in detail in our soon to be released Biennial Report. These TIRZs are located in 163 cities and 60 counties all across Texas.
TIRZ’s in Collin County• City of Allen TIRZ #1• City of Allen TIRZ #2• City of Celina TIRZ #2• City of Celina TIRZ #3• City of Celina TIRZ #4• City of Celina TIRZ #5• City of Celina TIRZ #6• City of Celina TIRZ #7• City of Celina TIRZ #8• City of Celina TIRZ #9• City of Celina TIRZ #10• City of Celina TIRZ #11
• City of Fairview TIRZ #1• City of Farmersville TIRZ #1• City of Frisco TIRZ #1• City of Frisco TIRZ #5• City of McKinney TIRZ #1• City of McKinney TIRZA #2• City of Melissa TIRZ #1• City of Plano TIRZ #2• City of Princeton TIRZ #1• City of Prosper TIRZ #1• City of Prosper TIRZ #2
Here is a look at only Collin County, where there are currently 23 TIRZs located and numerous others located in nearby counties such as Dallas, Denton, Tarrant, Grayson
This slide like the previous slide can be found on the Comptroller’s website listed as a “TIRZ Financial Report.” This is just a small sample of the report which is in an excel format which would allow you to sort and sort for the TIRZ you are looking for. This report goes back to May 2019. This report covers 21 of the 23 known TIRZs. They have a combined fund balance of $32 million, revenues of $45.6 million, expenses of $48 million, a tax increment base of $1 billion, and a captured appraised value of $2.5 billion which is roughly a $1.5 billion increase in property since the TIRZs were first created resulting from property improvements of some type.
2019 Legislation Results – HB3• Changed a number of the property tax calculations that might
impact future revenues for certain local reinvestment zones.
• In Section 311.013, the bill cross references Section 42.2514 which were changed to 48.253 of the Education Code.
• It appears to give the Comptroller right to access agreements made by school districts to verify/determine how much state aid a school district may receive for TIF payments.
• Refer to the HRO report for general impact (https://hro.house.texas.gov/pdf/ba86r/hb0003.pdf)
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Presentation Notes
HB3 changed a number of the property tax calculations that might impact future revenues for certain local reinvestment zones. We believe that our office will be working through these repercussions in the coming years, and local governments and advisory groups will be doing the same – hence we are unable to give definitive answers that get into property tax calculations. However, we will be happy to address specific questions related to HB3’s impact on Chapter 311 as they come up. The change in section 311. 013 appears to give the Comptroller the right to access agreements made by school districts to verify or determine how much state aid a school district is able to receive for TIF payments. But, it doesn’t appear to affect the underlying calculations in Chapter 311. For the time being our office suggest that local taxing units refer to the House Research Organization website for their analysis as to the bill’s general impact.
When a municipality or county creates a TIRZ, it records the total taxable value of all real property within the zone. This is a snapshot of the zone’s base value. So lets go through each element in a clear manner. First, the participants in a TIRZ dedicate a Tax Increment to finance TIRZ improvement projects. This percentage is a portion of the taxes collected that is contributed to fund the improvements. Second, the year in which a TIRZ is created is the “Base Year,” and the appraised value of TIRZ real property in the Base Year is the “Base Year Value.” Third, as development or redevelopment occurs, the appraised value of the property in the TIRZ increases as seen in the growth of the yellow area on the chart as time goes by as you move further to the right on the chart. Fourth, the difference between the increased appraised value of property in the TIRZ and the Base Year Value is defined as the “Captured Appraised Value.” Or another words, the Captured Appraised Value = (Current Year Value or Total Appraised Value) - (Base Year Value). When looking at the chart, the yellow amount of the captured appraised value increases when you move further to the right over time away from the creation date that established the base value. Fifth, taxes levied and collected on the Base Year Value remain with the participating taxing units. Sixth, some portion of the taxes levied and collected on the Captured Appraised Value as set by the tax. increment is sent to the municipality and deposited in the Tax Increment Fund. Revenues in the Tax Increment Fund can only be used to pay for TIRZ improvement projects.
Potential Benefits of a TIRZ• Build needed public infrastructure
• Encourage development
• Reduces cost of private development
• Achieving portions of the comprehensive plans and goals
• Promote infill and redevelopment of vacant/underutilized parcels.
• Promote appropriate mix of land uses
• Ensure transportation, utilities and public services to meet present/future needs
• Providing public facilities in an efficient and cost effective manner
• Highlight a community’s image by enhancing visually a community’s commercial areas and entrances
• Quality family-oriented retail, restaurant, and entertainment
• Provide ability to influence quality, timing, and type of development
• Enhance taxing unit’s tax base
• Partner with private developers to construct improvements
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Presentation Notes
There are several potential benefits to local taxing jurisdictions and taxpayers in general that would be accomplished with the creation of a TIRZ. Some of those benefits can include: 1) (Press Individually for Bullet Point to Appear) Building needed public infrastructure in areas that lack adequate development to attract business; 2) Encouraging development thereby increasing property values and long-term property tax collections as well as to maximizing its visual appeal, sense of place, and economic value; and 3) Reducing the cost of private development by providing reimbursement for eligible public improvements. 4) Achieving some of the Comprehensive Plans and Goals: 5) (Press Individually for Bullet Point to Appear) Promoting infill and redevelopment of vacant or underutilized parcels. 6) Promoting the appropriate mix of land uses within the city limits and extraterritorial jurisdiction. 7) Ensuring that transportation, public services, and utilities are maintained and enhanced to meet a community’s present and future needs. 8) (Press Individually for Bullet Point to Appear) Providing public facilities to maintain community safety, and serve existing and new development in an efficient and cost effective manner. 9) Highlighting a community’s image as a special community by enhancing the visual character of the community’s commercial areas and entrances. 10) Encouraging quality family-oriented retail, restaurant, and entertainment opportunities to provide the goods and services valued by area residents. 11) (Press Individually for Bullet Point to Appear) Providing the ability to influence quality, timing, and type of development in the ETJ. 12) Enhancing the taxing unit’s tax base and 13) Providing a tool to partner with private developers to construct improvements.
Quiz #8
Steps & Criteria
TIRZ Process: Steps 1-41. Prepare a preliminary financing plan (Tax Code, Section 311.003(b))
2. Publish the hearing notice (Tax Code, Sections 311.003(c), (d) and (e))
3. Hold a public hearing (Tax Code, Section 311.011(e))
4. Designate a reinvestment zone and file report (Tax Code, Sections 311.011 and 311.004)
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The process to creating a tax increment reinvestment zone is a simple eight step process: (Press Individually for Bullet Point to Appear) Before adopting an ordinance or order designating a reinvestment zone, the governing body of the municipality must prepare a preliminary reinvestment zone financing plan. (Press Individually for Bullet Point to Appear) Notice of the hearing must be published in a newspaper having a general circulation in the municipality, not later than the seventh day before the date of the hearing. (Press Individually for Bullet Point to Appear) The municipality must hold a public hearing on the creation of the zone and its benefits to the municipality and to property in the proposed zone. (Press Individually for Bullet Point to Appear)The governing body votes on and approves the designation of a reinvestment zone. After designating the zone, the lead taxing unit is to immediately submit form 50-807 to the Comptroller office.
TIRZ Process: Steps 5-85. Appoint a board to prepare a project plan and finance plan (Tax
Code Sections 311.008(b1) and 311.011 Sections (a)-(d))
6. Contribution to the TIF fund by other taxing units (Tax Code, Section 311.013)
8. Submit an annual report (Tax Code, Section 311.016(a)-(b))
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(Press Individually for Bullet Point to Appear) A board of directors of the reinvestment zone is to be appointed by the lead taxing unit and participating taxing units to prepare and adopt a project plan and a reinvestment zone financing plan. After adoption, the governing body of the city must approve the plans. (Press Individually for Bullet Point to Appear) The city may enter into an agreement at any time before or after the zone is designated. After the board of directors and the governing body has approved the project plan and the reinvestment zone, the other taxing units with property within the zone may set the percentage of their increased tax that would be dedicated to the tax increment fund. (Press Individually for Bullet Point to Appear) Once the reinvestment zone is established, the zone’s board of directors must make recommendations to the governing body on implementing the tax increment financing as it relates to levying the taxes, collecting the taxes and depositing the tax increments. (Press Individually for Bullet Point to Appear) The municipality shall send a copy of the annual report to the comptroller.
Criteria to Create a Reinvestment ZoneTax delinquency exceeding the fair value of the land;Deteriorated structures; Inadequate sidewalks or streets; Poor platting;Unsanitary or unsafe conditions;Deterioration of site;Defective or unusual conditions; Conditions that endanger life or
property by fire or other disaster; or
Tax Code, Section 311.005
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To create a reinvestment zone, as a part of the project plan, a city must determine if at least one of these required criteria apply to the area being considered as identified in Tax Code, Section 311.005. The area must substantially arrest or impair the sound growth of the municipality designating the zone, retard the provision of housing accommodations, or constitute an economic or social liability and be a menace to the public health, safety, morals, or welfare in its present condition and use because of the presence of: (Press Individually for Bullet Point to Appear) A substantial number of substandard, slum, deteriorated, or deteriorating structures; (Press Individually for Bullet Point to Appear) Tax or special assessment delinquency exceeding the fair value of the land; (Press Individually for Bullet Point to Appear) The predominance of defective or inadequate sidewalks or streets; (Press Individually for Bullet Point to Appear) Faulty size, adequacy, accessibility or usefulness of lots; (Press Individually for Bullet Point to Appear) Unsanitary or unsafe conditions; (Press Individually for Bullet Point to Appear) Deterioration of site or other improvements; (Press Individually for Bullet Point to Appear) Defective or unusual conditions of improvement; (Press Individually for Bullet Point to Appear) Conditions that endanger life or property by fire or other cause; or
Continued - Criteria to Create a Reinvestment Zone
Any combination of these factors:• Federally assisted new
community;• Located in a home-rule
city; • Impaired growth; and• Sign relocation.
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Presentation Notes
Lastly, any combination of these factors could be considered in the designation of a reinvestment zone such as: (Press Individually for Bullet Point to Appear) Be in a federally assisted new community in a home-rule city or adjacent to a federally assisted new community; (Press Individually for Bullet Point to Appear) Located in a home-rule city; (Press Individually for Bullet Point to Appear) Primarily due to obsolete platting, deteriorated structures impairing or arresting growth; and (Press Individually for Bullet Point to Appear) Encompass signs, billboards, or outdoor advertising structures the governing body of the city designates for relocation.
Quiz #9
Operation/ Function of a TIRZ
Changing/Modifying Boundaries
Boundaries may be enlarged or reduced.
Enlarging an area by petition.
Extending the term of a whole or portion of a zone.
Tax Code, Section 311.007
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In Tax Code Section 311.007, the boundaries of an existing reinvestment zone may be reduced or enlarged by city ordinance. Also, an area may be enlarged by petition if submitted to the governing body of the municipality by the owners of property constituting at least 50 percent of the appraised value of the property in the area according to the most recent certified appraisal roll. A local government governing body, may extend the term of all or a portion of the zone after notice and hearing in the manner provided for the designation of the zone.
Zone Development & Enlargement
Original Zone
Treadway Sub-Zone
13th Street Sub-ZoneAbatement 1
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A zone can be enlarged by including new areas or sub-divisions at different times during its existence. Each new addition should be a part of an updated master project plan and the finance plan. However, on the Comptroller annual report form 50-806, you will need to show the tax increment base value, captured appraised value and total appraised value for each zone, sub-zone separately then add them up together at the end of the form.
Composition of Board Directors 5-15 members 1 per “participating” taxing unit Lead Taxing Unit
Appointments Other Participating Units
Combined Total 2 Year Terms Staggered Terms Chairman Vice Chairman
Tax Code, Section 311.009(a) and (e)-(f)
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The board of directors of a TIRZ; Must consist of at least 5 and not more than 15 members; Participating taxing units in the TIRZ may appoint one member of the board if their governing body approves payment of all or part of the tax increment into the TIF fund for the zone. Also, The lead governing body of a city may appoint no more than 10 directors to the board; If other participating taxing units appoint a combined total less than 5 directors then the designating municipality may appoint more than 10 directors. Based on Tax Code Sections 311.009(e) – (f), the governing body would: determine if the board members serve two year terms. determine if the board member terms are staggered or not and fill the Chairman position for a term of one year, beginning on January 1 of the following year. The TIRZ board would elect one of its members to serve as vice-chairman.
TIRZ Financing• Municipality issues tax increment bonds• Municipality creates a
Local Government Corporation• Tax Increments are pledged
as security• Counties may not issue Tax
Increment Bonds
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Traditional TIRZ Financing can occur under one of these scenarios such as: (Press Individually for Bullet Point to Appear) A municipality may directly issue Tax Increment Bonds. (Press Individually for Bullet Point to Appear) A municipality may create a Local Government Corporation (“LGC”) under Chapter 431, Transportation Code, to issue bonds on behalf of the municipality and manage the affairs of the TIRZ. (Press Individually for Bullet Point to Appear) Tax Increments can be pledged as security for Tax Increment Bonds, the proceeds of which are used to pay for TIRZ Improvements. (Press Individually for Bullet Point to Appear) It is important to note that counties may not issue Tax Increment Bonds.
Public/Private Financing in a TIRZ
Development
Increased Property
ValuesTax Increment
TIRZ Improvements
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Presentation Notes
Lets use this chart to illustrate how a public/private TIRZ financing plan might work. A TIRZ can enter into an agreement with a private developer to construct TIRZ Improvements. The developer agrees to construct and pay for the cost of construction of a particular TIRZ Improvement. In turn, the TIRZ agrees to reimburse the developer for the project costs of such TIRZ Improvement, if and when funds are available for such purpose. Thus, the financial risk is shifted from the TIRZ to the developer. These early TIRZ Improvements can play a key role in encouraging the development or redevelopment of the TIRZ by increasing the appraised value of property within the TIRZ and generating Tax Increments.
Abatement Agreements within the TIRZ
Any taxing unit except a school district may enter into an agreement; and
Board and Governing Body Approval
Tax Code, Section 311.0125
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In Tax Code, Section 311.0125 pertaining to abatement agreements within a TIRZ; Any taxing unit except a school district may enter into an agreement with the owner of real property in a reinvestment zone; and A tax abatement agreement can become effective only with the approval of the reinvestment zone board of directors and the governing body of each taxing unit that participates in the TIF project.
Quiz #10
CollectionDepositing &Termination
Collection of the Tax Increment
Can sales taxes be deposited into the TIF fund?(Tax Code, Section 311.013)
Who pays into the TIF fund?(Tax Code, 311.013(b) and (c))
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This slide and the next two slides pose a series of questions about the collection and depositing of TIF funds. (Press Individually for Question to Appear) Can sales taxes be deposited into the TIF fund? Sales tax revenue if earmarked by the city for the TIF fund would be deposited directly into the fund by the Comptroller. (Press Individually for Question to Appear) Who pays into the TIF fund? The lead taxing unit that created the TIRZ as well as each participating taxing unit shall pay into the TIF fund for the zone. They must pay a portion of the property tax collected on the value of the property in the zone minus the value of the property in the zone the year it was designated.
Deposit of the Tax Increment
When is payment into the fund to be made?
What happens if a taxing unit misses a payment into the TIF fund?
(Tax Code, Section 311.013)
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(Press Individually for Question to Appear) So when is payment into the fund to be made? A taxing unit shall make a payment not later than the 90th day after the later of: (a) the delinquency date for the unit’s property taxes; or (b) the date upon which the municipality that created the zone submits to the taxing unit an invoice specifying the tax increment produced by the taxing unit and the amount the taxing unit is required to pay into the tax increment fund for the zone. (Press Individually for Question to Appear) And, what happens if a taxing unit misses payment into the TIF Fund? If a taxing unit is delinquent in paying into the TIF Fund, then the local taxing unit is to pay a delinquent penalty of 5 percent of the amount delinquent and that amount accrues interest at an annual rate of 10 percent.
Termination of the TIRZ Process
Remaining excess funds
Tax Code Section 311.014(d) and 311.017
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A TIRZ can be terminated when these two things occur as per Tax Code Section 311.017: on the date the city that created the zone sets as termination date by order or ordinance; or when all project costs, tax increment bonds and interest on those bonds and obligations have been paid in full. Tax Code, Section 311.014(d) says that after all project costs, bonds, notes and obligations have been paid, any money remaining in the TIF fund shall be returned to the participating taxing units in proportion to each unit’s respective share of the total amount of tax increments derived from real property in the zone that was deposited in the fund during its existence.
Comptroller RoleCentral registry for TIRZs (Tax Code, Section
311.019(a)).
Submit a report to the Legislature and the Governor no later than December 31 of each even-numbered year (Tax Code, Section 311.020(a)).
(Press Individually for Bullet Point to Appear) The Comptroller is required to maintain a central registry as per Tax Code Section 311.019(a) that provides a list of all reinvestment zones, abatements, TIRZs, project plans and finance plans throughout the state that have been adopted and submitted. (Press Individually for Bullet Point to Appear) This information is to be compiled and submitted as a report to the Legislature and to the Governor no later than December 31 or each even-numbered year. (Press Individually for Bullet Point to Appear) Another role for the Comptroller is to assist local governments and the public with questions about TIRZs, reinvestment zones, abatements and the forms required to be filled out.
Quiz #11
Forms & Available Materials
Key Portions of the Forms• Form 50-807• Form 50-806
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Lets quickly look at form 50-807, the creation of a “New Tax Increment Reinvestment Zone.” Some key things to be aware of on this form are: Question 2 – making sure other required documents are checked off and submitted; Questions 3 and 4 – zone creation date and termination date; Question 6 – ask for the GPS coordinates but in the next 12-18 months these will be required because the Comptroller office will be placing all TIRZs on a map showing the boundaries and properties contained therein; Question 8 – the type of project the TIRZ is undertaking that fiscal year; Question 9 need to show the tax increment base value of all the property in the TIRZ at the time of its creation and Question 10- MUST show ALL taxing units participating in the TIRZ and what percentage of tax increment they have agreed to dedicate into the TIF fund and for how long they plan to participate in the TIRZ. Form 50-806 requires all the financial information of the TIRZ such as: Question 6 – what type of property is in the TIRZ; Question 7 – what type of projects are being undertaken by the TIRZ for the particular fiscal year; Question 8 – asks for the TIF Fund balance at the end of the fiscal year of the TIRZ; Question 9 requires the showing of all revenue sources and to total that amount; Question 10 – requires the showing of all expenditures and the total of all these line item expenditures; Question 11 – requires the principal amount due and the debt interest due Lastly, is question 12 – which requires the tax increment base value total, the captured appraised value total and the total appraised value of all the property with the boundaries of the Original Zone of TIRZ. If the TIRZ is “Expanded Zone,” then these three values need to be shown separately from the values of the properties in the “Original TIRZ” for the new property that has been included in the zone. The “Grand Totals” for these three values for all sub-divisions are to be added together at the end of page three.
Reporting Requirements New TIRZ
Form 50-807 Ordinance Project Plan Finance Plan Due April 1 of the year
following the year in which the zone is designated
Modified TIRZ Ordinance Project Plan Finance Plan Due before April 1 of the year
following the year the amendment is made
Annual Report Form 50-806 Finance Plan Due on or before the 150th
day following the end of the city’s fiscal year
Reporting Party Recommended - Submit the
forms ASAP Tax Code, Sections 311.016(b) and 311.019(b), and 311.019(c)
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Presentation Notes
(Press Individually for Bullet Point to Appear) Cities must notify the Comptroller’s office of the creation of all TIRZ before April 1 of the year following the year in which the zone is designated. Notice must include form 50-807, the ordinance designating the zone, the project plan and the financing plan. (Press Individually for Bullet Point to Appear) A city that amends or modifies a tax increment reinvestment zone, a project plan, or a financing plan adopted under this chapter must deliver a copy of the ordinance and any amended documents to the comptroller before April 1 of the year following the year the amendment is made. (Press Individually for Bullet Point to Appear) On or before the 150th day following the end of the city’s fiscal year, the governing body must produce an annual report on the status of the zone and send a copy to the Comptroller. The annual report must be accompanied by Comptroller form 50-806. (Press Individually for Bullet Point to Appear) From a best practice perspective, it is highly recommended that cities submit all documentation immediately rather than waiting. This minimizes lost paperwork and helps us connect each zone’s creation filings to the annual reports. (Press Individually for Bullet Point to Appear) Lastly, all local government entities that create a TIRZ are the sole responsible party for submitting all required documents and forms. The CADs are not responsible nor are the participating taxing units for sending the forms to the Comptroller.
Problematic Forms• Fields left blank
• Using an outdated form
• Incompletely filled out and outdated form
• Not following instructions on the form –EXAMPLE: choice of one “Property Type”: “residential, industrial/commercial or both”
• If TIRZ has expanded, MUST divide the zone into “Subdivisions on question #15
• No CPA report submitted
• Very late filings and
• Missing zone creation form
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Presentation Notes
Over the past couple of years, our office has identified several problems when we receive the required forms from the local taxing jurisdictions. (Press Individually for Bullet Point to Appear) Often certain fields are left blank and should not be such a the debt principal or debt interest. If the amount is $0, then write in $0 but do not leave these or other fields blank. (Press Individually for Bullet Point to Appear) Periodically, our office receives an outdated form from a local taxing unit, where they apparently downloaded a form and made multiple copies of it rather than going online to download the most current form(s) on the Comptroller website which are periodically updated. (Press Individually for Bullet Point to Appear) Where a local taxing unit submit an outdated form which if incompletely filled out. (Press Individually for Bullet Point to Appear) Taxing units no properly answering the question, by selecting multiple options when one option is asked for regarding the “Type of Property the zone encompasses whether it includes residential and/or industrial/commercial properties; (Press Individually for Bullet Point to Appear) If the TIRZ at any point has expanded its boundaries, then the taxing unit MUST answer question #15 by dividing the zone into two or more subdivisions based on the number of times the zone has been expanded and the values for the tax increment base, captured appraised value and total appraised value MUST be determined for each “subdivision” then each value is to be totaled at the end of the form; (Press Individually for Bullet Point to Appear) demonstrates where a local taxing unit submits some internal documents they produce and submit to the Comptroller office but they fail to download and submit the required Comptroller forms. (Press Individually for Bullet Point to Appear) Lastly, this scenario shows where a local taxing unit submits the form for FY 2015-2016 but on the last page of the form where the signature is, the form is dated March 2019!
You can find a number of valuable materials on the Comptroller webpage regarding abatements and reinvestment zones. (Press Individually for Bullet Point to Appear) As indicated on the previous slides, our office is responsible for publishing a Biennial Report, and you can find the Biennial Report going back to 2008, and providing a series of tables and charts with some analysis about tax increment reinvestment zones. (Press Individually for Bullet Point to Appear) Also on this same page, you can find our first in a series of semi-annual TIRZ Financial Logs. This log is a list of all known TIRZs throughout Texas by a number of cities. This log is in an excel format which allows you to sort and search for the information you want. Information provided in this log will include TIF Fund Balances, revenues, expenditures, debt principal and debt interest amounts, baseline values, captured appraised values and total appraised values (Press Individually for Bullet Point to Appear) Also found online is our downloadable Tax Increment Reinvestment Zone and Abatement brochures that has the key information about Chapters 311 and 312 in a synopsized format and easy to read manner with statutory citations. (Press Individually for Bullet Point to Appear) Recently, our office and created two informative webinars which are found on our website pertaining to abatements and TIRZs – so please check them out. (Press Individually for Bullet Point to Appear) Finally, you can get basic questions answered on our easy to follow Frequently Asked Questions (FAQs) which are subdivided by categories so you don’t need to go through a bunch of unnecessary questions.
If you have additional questions about tax increment reinvestment zones, tax increment funding or the proper process to follow and what forms to use, please contact the Data Analysis & Transparency Division. Thank you.
