Tax Increment Financing Growth in Iowa
Tax increment financing (TIF) is a mechanism authorized by Iowa law allowing local governments, primarily cities, to capture the taxes collected on property valuation growth in a specified district. The use of TIF authority among Iowa's cities is extremely popular. In fiscal 1991, there were 746 different TIF districts or projects in Iowa. By fiscal 1997 that number had increased to 1,014, and by fiscal 2006, it had increased to 2,358, a 133 percent increase in a nine year period. More cities are using TIF authority, there are many more TIF projects than there were a decade ago, and the amount of statewide property taxable valuation that is sequestered within TIF districts and therefore not available to the general funds of all local governments has also grown strongly over the years. This report analyzes a decade of changes in TIF usage in Iowa.
|Date of creation:||01 Apr 2006|
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