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The Clay County
Tax Increment Financing Commission: Helping Clay County Grow by Helping Businesses Grow |
| Tax Increment Financing is a judicially used but important tool for area development. The Clay County TIF Commission is empowered to temporarily set aside portions of a development's tax burden in order to fund improvements to make the development possible. In simple terms, the increased taxes that would be generated by the development's improvements are temporarily used to fund those improvements. Once the improvements are paid for, the development's taxes are distributed traditionally. The benefits of TIF improvements occur where the costs for extensive sewer, road or other infrastructure can make development prohibitive. In Clay County, exciting uses of TIF funding has helped redevelop areas where blight or physical challenges would have made improvement impossible. As with other efforts, the TIF Commission operates under the umbrella of the Clay County Economic Development Council, which provides staff and other assistance. For more information on the Commission phone (816) 468-4989 or e-mail the Clay County EDC. |
Tax Increment Financing is a state-apporoved technique for helping fund expensive infrastructure and other site improvements. |
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