Jul 20, 2009

TIF Increases

The Spread Sheet listed in the link below shows the growth in value in the ten Tax Increment Financing Districts in Peoria.  The rate of growth is substantially greater then the remainder of the City or School District 150.  The City has seen substantial increases in property tax and jobs as a result of the redevelopment in these TIF areas.

At the creation of the Ten Tax Increment Financing Districts, the Existing Equalized Assessed Value (EAV) (1/3 of fair market value) was 49,129,434.  In 2008 the total EAV had increased by $60,296,071 to a total of $109,425,505.

More info at: