What is Tax Increment tax?
A number of Tax Increment Financing (TIF) districts have been created within Dakota County. TIF is a program which allows the increased property taxes generated by a development to pay for development costs. Tax Increment Financing is not an additional tax. Tax Increment Financing does not affect the calculation of the tax amount; rather, it affects the distribution of the tax. The tax due is calculated the same as for a property that is not in a TIF district, but money that would normally go to the county, city, school, and special taxing districts is instead diverted to the TIF district.
A number of Tax Increment Financing (TIF) Districts have been created within Sherburne County TIF is a program which allows the increased property taxes generated by a development to pay for development costs. Tax Increment Financing is not an additional tax. Tax Increment Financing does not affect the calculation of the tax amount. Rather, it affects the distribution of tax. The tax due is calculated the same as for a property that is not in a TIF district, but money that would normally go to the County, City, school and special taxing districts is instead diverted to a TIF district.
A number of Tax Increment Financing (TIF) districts have been created within Washington County. Basically, TIF is a program which allows the increased property taxes generated by a development to pay for development costs. Tax Increment is not an additional tax. Tax Increment does not affect the calculation of the tax amount; rather, it affects the distribution of the tax. The tax due is calculated the same as for a property that is not in a TIF district, but money that would normally go to the county, city, school, and special taxing districts is instead diverted to the TIF district.
