Monday, September 17, 2012

TIF Fact #4 --- TIFs Comprise 11% of All Taxable Property in Marion County - How Much More Is Prudent?

I sent the following email message to all City-County Councillors, select media representatives, and Senator Luke Kenley.
Marion County has 45 TIF districts.
4 new ones with no track record
1 on non-taxable airport land (so an automatic zero base)
40 older ones with taxable property and a track record
Taken together these TIF districts comprise 11% of the total assessed value of Marion County and pull in about $100 million a year in property tax revenues that go to the TIF funds, and not to the schools, libraries, and other taxing units.
Have you been involved in a discussion of how much of Marion County's property value can be consumed by TIF districts without putting our tax base at risk and without forcing uncontrollable circuit breaker penalties on our schools, libraries, and other taxing units?
The Council should demand full disclosure before Prop 15 or any other TIFs are considered.  Otherwise you won't know what you are voting on.


No comments: