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How does TIF affect property owners or homeowners in or near the TIF district?

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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.