Download or read book Tax Increment Financing and Economic Development Second Edition written by Craig L. Johnson and published by State University of New York Press. This book was released on 2019-07-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the many issues raised by TIF, the most widely used tool of local economic and community development. This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called “...a major contribution to the debate on the efficacy of such economic development financing tools as TIF...” by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use. Craig L. Johnson is Associate Professor of Public Finance and Policy Analysis at Indiana University. He is the coauthor (with Martin J. Luby and Tima T. Moldogaziev) of State and Local Financial Instruments: Policy Changes and Management. Kenneth A. Kriz is University Distinguished Professor of Public Administration at the University of Illinois at Springfield.
Download or read book Tax Increment Financing and Economic Development Second Edition written by Craig L. Johnson and published by SUNY Press. This book was released on 2019-07-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the many issues raised by TIF, the most widely used tool of local economic and community development. This book brings together leading experts to examine the evolving nature of tax increment financing (TIF), the most widely used tool of local economic and community development. Originally designed as an innovative approach to the redevelopment of blighted areas, it has become a more general-purpose tool of economic and community development. Contributors offer case studies of the uses, structures, and impacts of TIF projects alongside more general discussions on the theoretical, financial, and legal bases for the use of TIF. They also explore its effect on overlapping jurisdictions such as cities, counties, and school districts. Some of the case studies capture TIF at its best—redeveloping areas that would likely never develop without substantial incentives. Other cases highlight questionable uses, especially where it has been used in new ways that those who developed the tool never envisioned. Originally published in 2001, the book was called “…a major contribution to the debate on the efficacy of such economic development financing tools as TIF…” by the journal Public Budgeting & Finance. Clear, comprehensive, and timely, this new edition features the latest research and thinking on TIF, including the political, legal, and even ethical issues surrounding its use.
Download or read book The Use of Redevelopment and Tax Increment Financing by Cities and Counties written by Ralph Andersen and Associates and published by . This book was released on 1984 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Increment Financing written by Susan Szaniszlo and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Redevelopment and Tax Increment Financing by Cities and Counties in California written by Ralph Andersen and Associates and published by . This book was released on 1976 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Improving Tax Increment Financing TIF for Economic Development written by David Merriman and published by . This book was released on 2018-09-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist David Merriman of the University of Illinois at Chicago reviews more than 30 individual studies in the most comprehensive assessment of tax increment financing (TIF) with practical recommendations for policy makers and practitioners. The report finds that while TIF has the potential to draw investment into neglected places, it has not accomplished the goal of promoting economic development in most cases. First implemented in the 1950s, TIF funds economic development within a defined district by earmarking increases in future property tax revenues that result from increases in real estate values in the district. The tax revenue can be used for public infrastructure or to compensate private developers for their investments, but TIF is prone to several pitfalls: it often captures some revenues that would have been generated through normal appreciation in property values, it can be exploited by cities to obtain revenues that would otherwise go to overlying government entities such as school districts, and it can make cities' financial decisions less transparent by separating them from the normal budget process. The report recommends several ways that state and local policy makers can reform TIF practices going forward.
Download or read book The Role of Tax Increment Financing in Land Use Change and Economic Development in the Coachella Valley Southern California written by Amer S. Althubaity and published by . This book was released on 1995 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Increment Financing in Minnesota written by James Noble and published by DIANE Publishing. This book was released on 1997-04 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the late 1980's, the Minnesota Legislature has enacted important reforms to Tax Increment Financing (TIF), the development tool that enables cities and other jurisdictions to capture the additional taxes which are generated by a development project to finance up-front site preparation or acquisition costs. The purpose of the reforms was to limit the use of TIF to certain kinds of development projects and to eliminate abuses of the financing tool. While the amount of captured tax capacity grew by an average of 24%/yr. between 1984 and 1989, it slowed to just 2%/yr. between 1990 and 1995.
Download or read book Strong Towns written by Charles L. Marohn, Jr. and published by John Wiley & Sons. This book was released on 2019-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new way forward for sustainable quality of life in cities of all sizes Strong Towns: A Bottom-Up Revolution to Build American Prosperity is a book of forward-thinking ideas that breaks with modern wisdom to present a new vision of urban development in the United States. Presenting the foundational ideas of the Strong Towns movement he co-founded, Charles Marohn explains why cities of all sizes continue to struggle to meet their basic needs, and reveals the new paradigm that can solve this longstanding problem. Inside, you’ll learn why inducing growth and development has been the conventional response to urban financial struggles—and why it just doesn’t work. New development and high-risk investing don’t generate enough wealth to support itself, and cities continue to struggle. Read this book to find out how cities large and small can focus on bottom-up investments to minimize risk and maximize their ability to strengthen the community financially and improve citizens’ quality of life. Develop in-depth knowledge of the underlying logic behind the “traditional” search for never-ending urban growth Learn practical solutions for ameliorating financial struggles through low-risk investment and a grassroots focus Gain insights and tools that can stop the vicious cycle of budget shortfalls and unexpected downturns Become a part of the Strong Towns revolution by shifting the focus away from top-down growth toward rebuilding American prosperity Strong Towns acknowledges that there is a problem with the American approach to growth and shows community leaders a new way forward. The Strong Towns response is a revolution in how we assemble the places we live.
Download or read book Subsidizing Redevelopment in California written by Michael Dardia and published by Public Policy Instit. of CA. This book was released on 1998 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Increment Financing written by and published by . This book was released on 1996 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Increment Financing Project written by Joel Michael and published by . This book was released on 1990 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.
Download or read book Redevelopment and Tax Increment Financing Alternative methods of finance and related issues written by Minnesota League of Cities and published by . This book was released on 1977 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Tax Increment Financing and Strategies Available to Ramsey County written by Ramsey County (Minn.) and published by . This book was released on 1990 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financing Economic Development in the 21st Century written by Sammis B. White and published by M.E. Sharpe. This book was released on 2003 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises 17 papers which explore alternative ways of financing local economic development. Discusses the various goals of economic development that communities might seek and examines funding techniques used by the developer (tax incremental financing, location incentives, development exaction), public financing (enterprise zones and other incentives) and private finance. Also describes financing in special situations where the more common forms of finance might not be sufficient. Includes case studies of specific projects.
Download or read book Financing Affordable Housing and Local Economic Development written by California. Legislature. Senate. Committee on Governance and Finance and published by . This book was released on 2012 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
