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.
Supermajority Solutions for Texas Taxpayers
Texas bond elections often pass with low voter turnout and simple majorities, driving up local debt as a result. Raising voter approval thresholds could protect taxpayers and ensure a stronger consensus for public spending. Key points: Even though tax relief has been funded at the state level, increased debt at the local level has led...