TIF - Tax
Increment Financing
City councils or county boards of supervisors may use the property taxes
resulting from the increase in taxable valuation caused by the construction
of new industrial or commercial facilities to provide economic development
incentives to a business or industry. Tax Increment Financing may be used to
offset the cost of public improvements and utilities that will serve the new
private development, to finance direct grants or loans to a company, or to
provide the local match for federal or state economic development assistance
programs.
see
Chapter
403 of the Code of Iowa for more information
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