Why would a community use TIF?

Cities, villages, and towns, even when they are neighbors, often compete for new tax base and job growth as they look for revenue to ensure they can continue to provide residents with the best possible public services with the lowest property tax burden. The desire to be the best possible place to live and work is a value held by all communities; thus, the associated competition for economic development. New tax base means new revenue; new job growth means more money available to spend in the local economy and on local businesses; new businesses and amenities (public and private) means more people viewing the community as a place to invest in a home and/or in which to raise a family. New economic development increases tax base so residents do not experience higher property tax bills in the future. The City of Shawano Common Council wishes to ensure high-quality services and amenities, with the lowest required taxes possible.

Show All Answers

1. What is the difference between "TID" and "TIF"?
2. How does TIF work?
3. Why would a community use TIF?