What qualifies to be paid from taxes on increment value?

TIF tax revenues are used to repay debt incurred for qualifying urban renewal projects within a TIF area. Projects are for the purposes and activities listed in the Code of Iowa Sections 403.6 or 403.12 and should also be included in the city’s urban renewal plan. TIF debt for an urban renewal project can take the form of rebate agreements, internal loans, general obligation bonds, or TIF revenue bonds.

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1. What is a TIF Area?
2. What is the difference between a TIF Area and a TIF Tax District?
3. How is a TIF Area created?
4. How do taxes in a TIF Area work?
5. What happens to the “base” taxes and the “increment” taxes?
6. Who is the “TIF Authority”?
7. The TIF Authority is the governmental body that created the TIF Area. Usually a city, it could also be a county, a community college, or rural improvement zone.
8. Do all of the taxes on the increment value go to pay TIF debt?
9. Are my taxes higher because my property is in a TIF Area?
10. What qualifies to be paid from taxes on increment value?