Yes, Ryan Vaughn actually stated that "TIFs don't touch the base. That's why it's called Tax 'Increment' Financing."
It is discouraging that someone so involved with spending our tax dollars, does not understand the difference between the promises made about TIFs and the reality.
The erosion of the base was so prevalent in Indiana, that two years ago the Legislature enacted changes in how the base is recalculated each year (the TIF neutralization).
I have obtained all of these forms for all Marion County TIFs from 2008 to 2013. Below I chart the increment and base for all TIFs whose base was not already zero in 2008. I did not include 2013 data because they grouped the TIF numbers - for instance, all the component TIFs of the Consolidated Downtown TIF are no longer reported individually. Suffice it to say, the new base recalculating method is most helpful in preserving the base.
Some notes to the graphs:
Assessments are done in one year, and the taxes are billed the following year on that assessment. Thus, the x-axis reports time in the format of 2008pay2009.
The y-axis for the increment is on the left and increment is shown in red.
The y-axis for the base is on the right and base is shown in blue.
29 TIFs had non-zero base in 2008.
|I think TIF 151 had a transcription error on the pay 2011 form|
|TIF 640 had been dormant before 2012, when it was reactivated. The base was reconfigured at that point in time.|