TIF’s To Get A Closer Look During Legislative Session

(WNAX) — South Dakota lawmakers will be asked to review the uses of Tax Increment Financing, or TIF districts in next years session.  Dave Owen, President of the South Dakota Chamber of Commerce and Industry, says it is a complicated subject…

Owen says TIF districts are good tools for community development…

A TIF district diverts taxes on added improvements to pay for those changes over a number of years.  Owen says the cost to each tax payer is low for the benefits delivered by TIF districts…

The legislatures Executive Board has agreed that a review of state laws on TIF districts should be done in the next session.