How will a Redevelopment Area affect the City, County and other taxing agencies in regards to loss of tax revenue?
The City, the County, and other taxing agencies will continue receiving the same amount of property tax revenues they received prior to creation of the project area, plus a portion of the increased revenues resulting from increased property values in the project area. In most blighted areas, property values would not increase without redevelopment activities. The City, the County, and other taxing agencies will also receive increases in non-property tax revenues and revenues generated outside the project area as a direct result of redevelopment activities (i.e., sales tax, hotel room taxes, and property taxes from new buildings).
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