Can urban renewal/tax increment areas be expanded, and, if so, what are the implications for the original area?
New property may be added to existing tax increment areas, but the same process must be followed as that for creating the original area, including the hearing and consultation session with other taxing entities. The areas which are added will be subject to the statutory rules in effect on the date that they are added, but the original district will not be affected. The property which is added will probably have a different base valuation date than the base valuation date for the original district.
