Tag Archives: Local government

In the Know: Tax Incremental Financing (TIF)

Finance

With the ebbs and flows of property values and tax revenues received by local governments, a hot topic of debate involves the use of TIF (Tax Incremental Financing) to fund local infrastructure and revitalization projects. Black Mountain Software offers TIF management software specifically designed to automatically calculate tax by property and easily track multiple TIFs, but nothing can completely eliminate the complexity that TIFs add to a clerk’s accounting tasks. It does help to have a clear understanding of TIF basics, however. Below is a breakdown of what TIF is, how it works, and the key controversies that surround this financing tool.

What is TIF?

TIF, or Tax Increment Financing, is a fiscal tool used by local governments to “self-finance” capital projects for economic development projects.  TIF allows communities to borrow money to pay for infrastructure improvements such as sewers, facilities, bridges, and roads.  TIF can fund an individual project, or can be a part of a larger overall finance package used to revitalize an area or attract/retain new businesses (aka, TIF districts). Read more >

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When Two Worlds to Collide: Education and Government

How can city government play a greater role in improving local education…and should they?

Of course, education is a concern for everyone in the community.  Education ensures the future of our children and communities.  More and more, government officials are being urged to play a greater role in the education system, and they are making education initiatives the platform for their campaigns.

But how easy is to bridge the gap between government and the education system?  Here are eight tips for aligning education and government to help both groups unify and form better school initiatives.

1. Talk about the good.  Though budget cuts, larger class sizes, and school official salaries make for easy target practice, it is important to focus on what schools have been able to accomplish—often with so much less: less funding, fewer teachers, and a smaller amount of resources.  By doing this, government is acknowledging there is a gap between what needs to be done, and what is being done; then recognize this gap isn’t solely a product of school administration. Read more >

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