Transcription of FY 2013 ANNUAL URBAN RENEWAL REPORT - Iowa
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FY 2013 ANNUAL URBAN RENEWAL REPORT - Iowa
FY 2013 ANNUAL URBAN RENEWAL REPORT TAX INCREMENT FINANCING (TIF) FISCAL SERVICES DIVISION In consultation with iowa DEPARTMENT OF MANAGMENT FEBRUARY 1 4, 2014 iowa FY 2013 ANNUAL URBAN RENEWAL REPORT Page | 1 Introduction House File 2460 (Tax Increment Finance Reporting Act of 2012) established new URBAN RENEWAL and Tax Increment Financing (TIF) reporting requirements for counties, cities, and Rural Improvement Zones with URBAN RENEWAL Areas in place during FY 2012 and subsequent fiscal years. Tax Increment Financing is a financing mechanism for URBAN RENEWAL . It involves dividing the property taxes paid from property within a designated area between the traditional taxing authorities (counties, cities, schools, etc.) and the taxing authority that created the TIF area. The reporting requirements generally relate to the property tax implications of TIF: information on the amount of property tax revenue diverted to TIF, rebates paid with TIF funds in the REPORT fiscal year and planned for future fiscal years, debt to be repaid with future TIF revenue, and TIF Special Revenue Fund income, expenses, and balances.
fy 2013 annual urban renewal report tax increment financing (tif) fiscal services division . in consultation with. iowa department of managment . february 14, 2014
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