Business IncentivesTax Increment Financing (TIF) « Back to Search Results
Category: State Incentives, Grants and Loans
Tax Increment Financing(TIF) uses the increased property taxes that a new real estate development generates to finance costs of the development. In Minnesota, TIF is used for two basic purposes:
- To induce or cause a development or redevelopment that otherwise would not occur.
- To finance public infrastructure (streets, sewer, water, or parking facilities) that are related to the development.