What is a TAD?
A Tax Allocation District (TAD) is established for the purpose of catalyzing investment by financing certain redevelopment activities in underdeveloped or blighted areas using public dollars. Redevelopment costs are financed through the pledge of future incremental increases in property taxes generated by the resulting new development. Typically, upon creation, TADs have vacant commercial and residential properties, blighted conditions and numerous vacant buildings or are in need of significant environmental remediation.
What is a TAD? A Tax Allocation District is a clearly designated geographical area identified by a local government for redevelopment. The areas are generally underdeveloped, often due to infrastructure or environmental problems. TADs are typically used to: Revitalize blighted areas. Reuse old industrial or military facilities. Restore environmentally contaminated areas. Promote economic growth in underdeveloped areas.
