Connected to the past, working for the future
Custom Report
As you visit this site you will find pieces of information that you may want to add to a Custom Profile. To do that simply click the "add" link that is associated with that information. Once you are finished gathering data simply click "View Custom Report" and that will take you directly to your report. From there you can email, print or create a PDF of that report.
Tax Increment Financing
Tuesday, October 19, 2010 — admin
Tax increment financing is a tool that local governments can use to publicly finance needed structural improvements and enhanced infrastructure within a defined area.
The cost of improvements to the area is repaid by the contribution of future tax revenues by each taxing unit that levies taxes against the property. Specifically, each taxing unit can choose to dedicate all, a portion, or none of the tax revenue that is attributable to the increase in property values due to the improvements within the reinvestment zone. The additional tax revenue that is received from the affected properties is referred to as the tax increment. Each taxing unit determines what percentage of its tax increment, if any, it will commit to repayment of the cost of financing the public improvements.
Tax increment financing may be initiated only by a city.
Contact: Kelly Violette, AICP
Executive Director
Tomball Economic Development Corporation
29201 Quinn Rd., Suite B
P.O. Box 820
Tomball, TX 77375
281-401-4086
kviolette@tomballtxedc.org
