Tax increment financing (TIF) is a public financing tool that uses increased property tax revenue within a designated area—a TIF district—for redevelopment projects. In Texas, a TIF district is called a Tax Increment Reinvestment Zone (TIRZ). TIRZs are governed by Chapter 311 of the Tax Code.
Is the State Not Spending Enough on Public Education?
One state lawmaker recently accused Texas Governor Greg Abbott of not “spend[ing] the tax $ that you collected from us on our neighborhood schools instead…hoarding it in the treasury.” Setting aside the fact that the Legislature authors the state budget and dictates where money is spent—not the chief executive—this critique gets things wrong in another...