Tax increment financing (TIF) is a public financing tool that uses increased property tax revenue within a designated area for redevelopment projects. TIF advocates believe it helps redevelop blighted areas that would not otherwise see private investment, and thereby increases total economic growth in the area. However, serious concerns exist regarding Texas’ use of TIF.
Taxes & Spending
Bigger in Texas: Sizing Up the State’s Finances
Every even-numbered year, the state’s Legislative Budget Board (LBB) publishes a helpful, user-friendly summation of the General Appropriations Act (GAA), otherwise known as the state’s two-year budget. On Wednesday, the LBB published the next iteration—its 2024-25 Fiscal Size-Up. From a 30,000 ft. level, this new report provides “a comprehensive review of how tax dollars were...
August 2, 2024