Homeowners and property owners benefit from a successful TIF District in several ways:
- Property values are generally stabilized or improved, which can create a “spill over” benefit for adjacent neighborhoods.
- Certain public improvements – water/sewer/streets, etc. – can be paid for through sources other than general property taxes.
- Increased business activity can mean that fewer homeowner property taxes are required to provide for essential services – police, fire, public safety, etc.