Town of St. Johnsbury

802-748-3926

Tax Increment Financing (TIF)

Documents

Modified Date Friday, 30 March 2018
Filesize 1.36 Megabytes

What is Tax Increment Financing

A tool that funds public infrastructure using incremental property tax revenue to repay municipal debt incurred to build/improve public infrastructure and related costs associated with the redevelopment of an identified area (District).

A “public-private partnership” - public action stimulates private investment.

Specific statutory requirements:

  • Infrastructure improvements must serve the TIF District and stimulate private sector development or re-development.
  • Development must provide employment opportunities.
  • Development must improve and broaden the tax base.
  • Development must enhance the economic vitality of the municipality, region or state.

 

Modified Date Friday, 30 March 2018
Filesize 583 Kilobytes

TIF FAQs

  • What is Tax Increment Financing (TIF)?
  • What problems does TIF address?
  • How does TIF work?
  • What can TIF funds be used for?
  • What’s the impact on the education fund?
  • Aren't there some TIF districts that have failed?
  • I’ve heard that an informal consortium of communities in Vermont is interested in TIF.
  • Who are they and why are they pursuing TIF?
Modified Date Wednesday, 19 June 2019
Filesize 18.85 Megabytes

June 19, 2019 TIF District Plan Working Draft

Modified Date Monday, 08 July 2019
Filesize 12.33 Megabytes

July 5, 2019 - St. J TIF -- District Plan Draft