# Tax increment financing

Tax increment financing uses the growth in property taxes from new development to pay for public improvements or incentives in that area. Also called TIF, TIRZ, tax allocation district, or urban renewal area.

Data as of Oct 11, 2026. Page: https://boardwalkai.com/glossary/tax-increment-financing/

## What it is

A city fixes a district's base property value, and for a set number of years, taxes above that base pay for roads, utilities, cleanup, or developer repayments. Most states allow it, under different names.

## What it tells you

A new TIF district or agreement shows where a city is paying to make development happen, often downtown or in an industrial park. The agreement usually names the developer and what they must build.

## How it moves through a city or county

1. The city studies the area, often finding it blighted or underused, and drafts a plan.
2. Other taxing bodies, like the county and school district, may get a say.
3. The council holds a hearing and adopts the district and plan.
4. Projects then sign agreements to be repaid from the increment.

Names, blight tests, and how long districts last differ by state: TIRZ in Texas, urban renewal in Oregon and Iowa, tax allocation districts in Georgia.

Rules vary by state, county, and city. These pages describe common practice, not legal advice.

## Recent tax increment filings

From public filings in Maine, Nebraska, and Utah.

| Project | Location | Developer | Type | Size | Stage | Latest meeting |
|---|---|---|---|---|---|---|
| 475-Unit Mixed-Use Transit-Oriented Development | South Salt Lake, UT | SSL Market Center QOZB, LLC | Affordable (LIHTC) housing | 475 units | Approved | Nov 12, 2025 |
| 233-Unit Apartment Development | Omaha, NE | L1 VS, LLC | Apartments | 233 apartments | Seeking approval | Sep 29, 2026 |
| 30-Unit Senior Affordable Housing Development | Fairfield, ME | Fairfield School Associates, LP | Multifamily | 30 units · 1.42 acres | Seeking approval | Aug 5, 2026 |

Samples show projects filed by companies or public bodies.

## Find it on Boardwalk

Search Boardwalk for "tax increment" or "TIRZ". [Start free trial](https://boardwalkai.com/auth/signup/)

## Related terms

- [Development agreement](https://boardwalkai.com/glossary/development-agreement/): A development agreement is a contract between a local government and a developer setting a project's rules, timing, and public improvements.
- [Special district](https://boardwalkai.com/glossary/special-district/): A special district is a local government unit that funds or runs services like water and roads for one area.
- [Impact fee](https://boardwalkai.com/glossary/impact-fee/): An impact fee is a one-time charge on new development that helps pay for the roads, parks, water, or schools it needs.

## Common questions

### Does tax increment financing raise taxes?

Tax increment financing doesn't raise tax rates by itself. It sends the growth in tax revenue from the district to the TIF fund, instead of the general budgets of the city, county, or schools, for a set time.

### What is a TIF reimbursement agreement?

A TIF reimbursement agreement is a contract in which the developer pays for public improvements, like roads or utilities, and is repaid over time from the district's tax increment. It usually names the project and what must be built.

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## How to cite

Source: Boardwalk, "Tax increment financing", boardwalkai.com/glossary/tax-increment-financing/, data as of Oct 11, 2026.

How we count: https://boardwalkai.com/coverage/#how-we-count