value in tax increment financing · value in tax increment financing doug russell kalispell city...
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Value in Tax Increment Financing
Doug Russell
Kalispell City Manager
Montana League of Cities and Towns
September 2017
RTIC question on Tax Increment Financing
! RTIC
! Is there a benefit in Tax Increment Financing?
! Value in Developments
! External Value Outside the Developments
! Provides the Value of Vision for a community
Value in TIF?
Publicly used land with no tax revenue developed into commercial use. Established in 1996. Current Increment: $737,446 Inflationary increase only: $167,000
External Impacts- Importance of Development and Development Tools for Municipalities
State is Landowner (DNRC) Kidsports Lease 138 Acres(Market Value) 1997- $37,955 yr Permanent Easement 2013- $2,300,000 Section 36 Commercial Lease Revenue 2017- $670,204