Value in Tax Increment Financing Value in Tax Increment Financing Doug Russell Kalispell City Manager

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  • Value in Tax Increment Financing

    Doug Russell

    Kalispell City Manager

    Montana League of Cities and Towns

    September 2017

  • RTIC question on Tax Increment Financing

    !  RTIC

    !  Is there a benefit in Tax Increment Financing?

    !  Value in Developments

    !  External Value Outside the Developments

    !  Provides the Value of Vision for a community

  • Value in TIF?

    Publicly used land with no tax revenue developed into commercial use. Established in 1996. Current Increment: $737,446 Inflationary increase only: $167,000

  • External Impacts- Importance of Development and Development Tools for Municipalities

    State is Landowner (DNRC) Kidsports Lease 138 Acres(Market Value) 1997- $37,955 yr Permanent Easement 2013- $2,300,000 Section 36 Commercial Lease Revenue 2017- $670,204

  • Tools to Achieve the Vision

  • Next Steps

    !  Attend RTIC and Local Government Revenue Committee Meetings

    !  Tell our story

    !  Each community is different

    !  Be prepared to quantify and qualify the value of Tax Increment Financing