TIF give and take
Council OKs taking part in state’s matching program
The Morris City Council Monday approved participating in the last year of the state’s matching program to increase the city’s TIF fund by millions.
The state matching program is for sales tax dollars generated in the TIF district. A TIF District freezes the assessed value of properties in the district. Any tax money generated from increases in value of those properties then goes into a special fund to be used to improve properties in the district.
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