Tax Increment Financing (TIF) is a type of financing that permits local governments to finance the redevelopment of blighted areas and the economic development of rapidly developing areas. Tax increment is the property tax revenues collected on the increased assessed valuation of property in the area to be redeveloped or developed. Tax increment financing not only permits the acquisition of property for purposes of redevelopment or economic development, but also provides another means for communities to finance infrastructure improvements in a blighted area or an economic development area.
TIF’s are becoming an increasingly popular local means of financing public investment intended to stimulate private sector investment and job creation, principally through infrastructure improvements.
Pike County is currently home to three TIF districts:
|TIF ID#||TIF District
|T63001||Main St. Redevelopment Area