Tax Increment Financing (TIF)
Tax Increment Financing (TIF) is available in urban renewal districts only. City councils or boards of supervisors may use the property taxes resulting from the increase in taxable valuation caused by the construction of new industrial or commercial facilities to provide economic development incentives to a business. TIF can be structured as an up-front loan, with debt service paid from the future flow of new taxes generated by the project over a 10 year period, or the property owner can opt to take the TIF as a rebate of the new taxes over 10 years.
For more information regarding this incentive, contact Greater Dubuque Development at 563-557-9049 or by email.