Quick Reference  |  Summary

Tax Increment Financing

Purpose

Tax Increment Financing (TIF) helps local governments install public infrastructure to support their development projects.

Program

Exempts all of the new real property tax revenue from a project and redirects those taxes into a special fund used to pay for new infrastructure.

For Whom

Municipalities, Townships and Counties

Program Contact

Local communities (counties, municipalities and/or townships) administer these tax incentive programs, working directly with businesses on proposed projects to enter into agreements prior to construction. General Program Inquiries: contact the local economic development office/professional for the local jurisdiction or county where the project is planned.

The Ohio Development Services Agency's program relationship is with the local communities, including (1) acting as a clearinghouse for the TIF agreements, (2) generating and collecting the annual reports, and (3) providing technical support to local communities. Any Inquiries call: John Wickham, (614) 728-6778

How Much

A TIF may exempt up to 100 percent of the incremental property taxes for a period of up to 30 years with school board approval. TIFs may only exempt 75 percent of the new taxes for 10 years without school board approval.

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