Tax Increment Financing (TIF) Info

The attached map depicts the areas that the township would enact the 10 year 75% TIF. Download Tiff Map PDF

Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.

 

The following links may be helpful to those wishing to learn more about TIFs, please add those to the page as well.

TAX INCREMENT FINANCING INCENTIVE DISTRICTS (ohio.gov)

ohio tif fact sheet.pdf (cdfa.net)