What is a Tax Incremental Financing District?...What Are The Proposed Changes?While there are many advantages to TIDs, there is concern that TIDs increase the tax burden on citizens within the community. Governor Tony Evers` proposed budget, introduced as 2019 Senate Bill 59 on March 1, 2019, attempts to address this concern by proposing three changes to future TIDs. Those changes are:
Ken Notes: I have been advocating for simpler TIF rules with stronger guarantees especially for smaller communities. These changes are anything but that. The stress test specifically would be both difficult and expensive for cities to complete. Also how do you develop infrastructure for a project with no specific project on the boards. We need a simple TIF program for smaller cities to help expanding or new businesses with a development agreement based incentive that is bank financed up front. | ||
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