Download pdf - Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

Transcript
Page 1: Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

Value in Tax Increment Financing

Doug Russell

Kalispell City Manager

Montana League of Cities and Towns

September 2017

Page 2: Value in Tax Increment Financing · 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

Page 3: Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

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

Page 4: Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

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

Page 5: Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

Tools to Achieve the Vision

Page 6: Value in Tax Increment Financing · Value in Tax Increment Financing Doug Russell Kalispell City Manager Montana League of Cities and Towns September 2017

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


Recommended

Tax!Increment!Financing!in!Montana! AManual!for!Local ...Montana!Tax!Increment!Financing!Manual!~!July,!2014!~Page!3! Declining BASE Property Values TIF Start Date Increment for Development
Tax!Increment!Financing!in!Montana! AManual!for!Local ...Montana!Tax!Increment!Financing!Manual!~!July,!2014!~Page!3! Declining BASE Property Values TIF Start Date Increment for Development Documents
TAX INCREMENT FINANCING ASSISTANCE
TAX INCREMENT FINANCING ASSISTANCE Documents
Tax Increment Financing (TIF):
Tax Increment Financing (TIF): Documents
Tax Increment Financing TIF Districts In Oklahoma 2011
Tax Increment Financing TIF Districts In Oklahoma 2011 Documents
2009 Tax Increment Financing in Vermont - Home | … Tax Increment...2009 Tax Increment Financing in Vermont Prepared in accordance with Sec. 65 of Act No. 190 TABLE OF CONTENTS INTRODUCTION
2009 Tax Increment Financing in Vermont - Home | … Tax Increment...2009 Tax Increment Financing in Vermont Prepared in accordance with Sec. 65 of Act No. 190 TABLE OF CONTENTS INTRODUCTION Documents
Annual Report – Tax Increment Financing
Annual Report – Tax Increment Financing Documents
Tax Increment Financing - Lincoln
Tax Increment Financing - Lincoln Documents
TAX INCREMENT FINANCING ANNUAL REPORT
TAX INCREMENT FINANCING ANNUAL REPORT Documents
An Elected Official's Guide to Tax Increment Financing
An Elected Official's Guide to Tax Increment Financing Documents
Community Redevelopment Tax Increment Financing …
Community Redevelopment Tax Increment Financing … Documents
Tax Increment Financing for Pakistan
Tax Increment Financing for Pakistan Documents
Granite Ridge Tax Increment Financing Plan
Granite Ridge Tax Increment Financing Plan Economy & Finance
TAX INCREMENT FINANCING DISTRICTS
TAX INCREMENT FINANCING DISTRICTS Documents
DRAFT Tax Increment Financing Eligibility Report Green Bay
DRAFT Tax Increment Financing Eligibility Report Green Bay Documents
Tax Increment Financing Redevelopment Plan & Projectmattoon.illinois.gov/sites/default/files/page_attachments/Broadway... · Tax Increment Financing Redevelopment Plan & Project ……………………………
Tax Increment Financing Redevelopment Plan & Projectmattoon.illinois.gov/sites/default/files/page_attachments/Broadway... · Tax Increment Financing Redevelopment Plan & Project …………………………… Documents
STATE OF MINNESOTA · TAX INCREMENT FINANCING LEGISLATIVE REPORT BACKGROUND Tax increment financing (TIF) is a financing tool established by the Legislature to support local economic
STATE OF MINNESOTA · TAX INCREMENT FINANCING LEGISLATIVE REPORT BACKGROUND Tax increment financing (TIF) is a financing tool established by the Legislature to support local economic Documents
Implementing and Understanding Tax Increment Financing (TIF) Districts
Implementing and Understanding Tax Increment Financing (TIF) Districts Documents
Tax Increment Financing - Michigan Townships
Tax Increment Financing - Michigan Townships Documents